Ron Hakakian Sells Hermosa Beach Retail Property For $6.15M Through CBRE
SOLD
$6,150,000
+ 2
California
See Similar DealsRetail9,316 SF
Sold 01/10/2022
SOLD
Ron Hakakian Sells Hermosa Beach Retail Property For $6.15M Through CBRE
1310 Pacific Coast Hwy, Hermosa Beach, California 90254, United States
See Similar DealsRetail9,316 SF
Sold 01/10/2022
+ 2
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$660
Total Square Footage:9,316 SF
Transaction Type:Sale
Located in Hermosa Beach, the retail property at 1310-1314 Pacific Coast Highway has recently been sold. The property spans 9,316 square feet and was sold for a price of $6,150,000, resulting in a price per square foot of $660. The transaction took place on January 10, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,150,000
- Square Footage: 9,316
- Address: 1310-1314 Pacific Coast Highway, Hermosa Beach
- Market: Hermosa Beach
The seller of the property was Ron Hakakian. The deal was facilitated by the team at CBRE, including brokers Simon Mattox, Austin Wolitarsky, Dan Riley, Bill Durslag, and Kyle Woods.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$328,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,849.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,154.14
Annual Debt Service$349,849.65
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