Updated Dec 4, 2024
Bob Din Acquires Retail (Medical Office) Property In Long Beach For $11M
1220 East 4th Street
$11,000,000
$693/SF
Building Size
15,860 SF
Asset Type
Retail
Closing
Dec 1, 2023
About this deal
AI
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
Long Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93