Pinnacle Real Estate Advisors Sells Cerritos Retail Property For $14.8M
SOLD
$14,800,000
California
See Similar DealsRetail52,382 SF
Sold 08/26/2021
SOLD
Pinnacle Real Estate Advisors Sells Cerritos Retail Property For $14.8M
12221 Norwalk Boulevard, Cerritos, CA, USA
See Similar DealsRetail52,382 SF
Sold 08/26/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$282
Total Square Footage:52,382 SF
Transaction Type:Sale
Located in Cerritos, the retail property at 12221-17312 Norwalk Blvd. recently changed hands in a closed transaction. The property spans a total area of 52,382 square feet and was sold for a price of $14,800,000, resulting in a price per square foot of $282. The deal was facilitated by Peter Sengelmann, Eric Diesch, and Jackson Coon of Pinnacle Real Estate Advisors, who represented the seller.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $14,800,000
- Address: 12221-17312 Norwalk Blvd.
- Market: Cerritos
- Square Footage: 52,382
- Price Per Square Foot: $282
The seller was represented in the transaction by Peter Sengelmann, Eric Diesch, and Jackson Coon of Pinnacle Real Estate Advisors. The involvement of these individuals highlights the importance of their expertise in facilitating successful deals in the retail market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$789,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$52,581.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$70,159.55
Annual Debt Service$841,914.61
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