SLH Investments And DIICO Properties Acquire Retail Property In Santa Monica For $26.9M
SOLD
$26,900,000
California
See Similar DealsRetail41,200 SF
Sold 03/04/2022
SOLD
SLH Investments And DIICO Properties Acquire Retail Property In Santa Monica For $26.9M
1310 3rd Street Promenade, Santa Monica, California 90401, United States
See Similar DealsRetail41,200 SF
Sold 03/04/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$652
Total Square Footage:41,200 SF
Transaction Type:Sale
The retail property located at 1310 3rd Street Promenade in Santa Monica has been sold in a recent transaction. The property, spanning 41,200 square feet, was acquired for a sale price of $26,900,000, reflecting a price per square foot of $652.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $26,900,000
- Property Size: 41,200 square feet
- Price per square foot: $652
- Location: 1310 3rd Street Promenade, Santa Monica
The buyers involved in the deal were SLH Investments, represented by Leo Pustilnikov, and DIICO Properties, represented by Ely Dromy.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,434,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$95,570.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$127,519.72
Annual Debt Service$1,530,236.68
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