Updated Sep 9, 2024
Hanley Investment Group Brokers $2.7M Sale Of Two-tenant Retail Building In Lancaster
1240 W Ave K Lancaster, CA 93534, USA
$2,700,000
$385/SF
Building Size
6,999 SF
Asset Type
Retail
Closing
Sep 6, 2023
About this deal
AI
A two-tenant retail building in Lancaster, featuring AutoZone and Precision Eyebrow Threading, has been sold for $2.7 million. The property, located at 1240-1248 West Avenue K, spans 6,999 square feet on 0.6 acres. The sale price equates to $386 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,700,000
- Address: 1240-1248 West Avenue K, Lancaster
- Market: Lancaster
- Asset Type: Retail
- Acres: 0.6
The successful sale was brokered by Kevin Fryman, Bill Asher, and Jeff Lefko, representatives from Hanley Investment Group Real Estate Advisors. However, the identities of the seller and buyer have not been disclosed.
Players
Avenue 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
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93