Updated Dec 18, 2023
SLH Investments And DIICO Properties Acquire Retail Property In Santa Monica For $26.9M
1310 3rd Street Promenade, Santa Monica, California 90401, United States
$26,900,000
$652/SF
Building Size
41,200 SF
Asset Type
Retail
Closing
Mar 3, 2022
About this deal
AI
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.
Players
Santa Monica 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93