Updated Dec 4, 2024
CalBay Development Sells Retail Property In Alameda For $4 Million With Buyer’s Rep Jake Kim
1257 Park Street
$4,000,000
$1,548/SF
Building Size
2,583 SF
Asset Type
Retail
Closing
Oct 11, 2024
About this deal
AI
A 2,583-square-foot, single-tenant retail property located at 1257 Park Street in Alameda has been sold for $4,000,000. The property, constructed in 1991, is currently occupied by Jack in the Box and is situated in Downtown Alameda's shopping district.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,000,000
- Sale Price per Square Foot: $1,549
- Seller: CalBay Development
- Buyer’s Representative: Jake Kim - Pinnacle Estate Properties
- Seller’s Representatives: Bill Asher, Jeff Lefko & Jeremy McChesney - Hanley Investment Group; Cherie Huillade - Colliers
Hanley Investment Group facilitated the transaction, representing the seller, CalBay Development. The sale was navigated with the assistance of multiple representatives, showcasing collaboration between different agencies in the real estate market.
On the Map
$4,000,000
$1,548/SF
Retail
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Players
Alameda 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93