Pacific Petroleum Inc. Acquires Main Street Village Retail Center In Corona For $7.8M
135 East Ontario Avenue
$7,800,000
$390/SF
Building Size
20,000 SF
Asset Type
Retail
Closing
Apr 17, 2024
AI
The Main Street Village, a retail center in Corona, located at 135, 175, and 265 E. Ontario Ave., has been sold for $7.8 million. The property spans 20,000 square feet of retail space in the Inland Empire market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,800,000
- Buyer: Pacific Petroleum Inc.
- Seller: LJZ Corona LLC
- Address: 135, 175 & 265 East Ontario Avenue, Corona
- Market: Corona
- Square Footage: 20,000
- Price Per Square Foot: $390
- Brokers: Alan Krueger & Vanessa Haddad - CBRE
Alan Krueger and Vanessa Haddad of CBRE represented both the buyer, Pacific Petroleum Inc., and the seller, LJZ Corona LLC, in the sale of Main Street Village.
Players
Corona 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
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93