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CBRE Brokers $40M Sale Of Coronado Plaza In Prime Location
SOLD
$40,000,000
California
See Similar DealsRetail41,949 SF
Sold 05/10/2023
SOLD
CBRE Brokers $40M Sale Of Coronado Plaza In Prime Location
1300 Orange Avenue
See Similar DealsRetail41,949 SF
Sold 05/10/2023
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$953
Total Square Footage:41,949 SF
Transaction Type:Sale
The $40 million sale of Coronado Plaza, a 41,949-square-foot retail property located at 1300 - 1330 Orange Avenue in Coronado, has been brokered by CBRE. The Plaza, built in 1981 and featuring local restaurants and shops, is situated across from the Hotel Del Coronado and is expected to benefit from high traffic due to its prime location.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $40,000,000
- SF: 41,949
- PPSF: $954
- Address: 1300 - 1330 Orange Avenue
- Market: Coronado
The sale was facilitated by CBRE's Reg Kobzi, Joel Wilson, and Michael Peterson. The buyer's identity remains undisclosed.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$142,111.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$189,620.41
Annual Debt Service$2,275,444.88
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