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Bob Din Acquires Retail (Medical Office) Property In Long Beach For $11M

Property Image
SOLD
$11,000,000
Jeffrey Cicurel
Andrew Milne
John Chun
+ 1

California

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Retail15,860 SF
Sold 12/01/2023
the dealplayerscompscontact
Property Image
SOLD

Bob Din Acquires Retail (Medical Office) Property In Long Beach For $11M

1220 East 4th Street

See Similar Deals
Retail15,860 SF
Sold 12/01/2023
Jeffrey Cicurel
Andrew Milne
John Chun
+ 1
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$693
Total Square Footage:15,860 SF
Transaction Type:Sale

The retail property located at 1220 East 4th Street in Long Beach has been sold for a total price of $11,000,000. The property is a medical office and spans a total area of 15,860 square feet, resulting in a price per square foot of $694.

Summary of transaction details

  • Property Type: Retail (Medical Office)
  • Transaction Amount: $11,000,000
  • Address: 1220 East 4th Street, Long Beach
  • Market: Long Beach
  • Buyer: Bob Din
  • Seller: Turner Impact Capital
  • Seller's Representative: Matt DiCesare, Jeffrey Cicurel, Andrew Milne & John Chun - JLL

The deal was facilitated by JLL, with Matt DiCesare, Jeffrey Cicurel, Andrew Milne, and John Chun representing the seller, Turner Impact Capital. The transaction marks a successful transaction in the Long Beach market and showcases the demand for medical office spaces in the area.

Players

John Chun
JLL
John Chun
20 deals$1.1B volume
BROKER
Andrew Milne
JLL
Andrew Milne
4 deals$784.5M volume
BROKER
Jeffrey Cicurel
JLL
Jeffrey Cicurel
14 deals$244.3M volume(773) 573-8118
BROKER
Matt DiCesare
JLL
Matt DiCesare
9 deals$343.7M volume(310) 407-2149
BROKER
TC
Turner Impact Capital
SELLER

Details

SOLD
IMAGE: Matt DiCesare, Jeffrey Cicurel, Andrew Milne & John Chun DATE: 12/01/2023 ADDRESS: 1220 East 4th Street MARKET: Long Beach ASSET TYPE: Retail (Medical Office) BUYER: Bob Din SELLER: Turner Impact Capital SELLER'S REP: Matt DiCesare, Jeffrey Cicurel, Andrew Milne & John Chun - JLL (@JLL) SALE PRICE: $11,000,000 SF: 15,860 ~ PPSF: $694

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$586,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34