Updated Oct 29, 2024
Vista Investment Group Acquires Retail Property In Santa Monica For $18.7M
1334 3rd Street Promenade
$18,700,000
$84/SF
Building Size
221,310 SF
Asset Type
Retail
Closing
Oct 22, 2020
About this deal
AI
The retail property located at 1334 Third Street Promenade in Santa Monica has been sold for $18,700,000. The property spans a total area of 22,131 square feet, resulting in a price per square foot of $847. The transaction took place on October 23, 2020.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $18,700,000
- Square Footage: 22,131
- Price Per Square Foot: $847
- Address: 1334 Third Street Promenade, Santa Monica
- Market: Santa Monica
The buyer of the property is Vista Investment Group, while the seller is Third Street Limited. The deal was facilitated by the brokers Bob Safai, Matt Case, Brad Schlaak, and Randy Starr from Madison Partners.
On the Map
$18,700,000
$84/SF
Retail
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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
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93