Jacob Nahamia Acquires Retail Property In Venice For $6.26M
SOLD
$6,260,000
California
See Similar DealsRetail3,268 SF
Sold 09/29/2021
SOLD
Jacob Nahamia Acquires Retail Property In Venice For $6.26M
1424 Abbot Kinney Boulevard, Venice, CA 90291
See Similar DealsRetail3,268 SF
Sold 09/29/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,915
Total Square Footage:3,268 SF
Transaction Type:Sale
The retail property located at 1424-1428 Abbot Kinney Boulevard in Venice has been sold for a total price of $6,260,000. The property spans a total area of 3,268 square feet, resulting in a price per square foot of $1,915. The transaction took place on September 29, 2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,260,000
- Address: 1424-1428 Abbot Kinney Boulevard
- Market: Venice
The buyer of the property is Jacob Nahamia, while the seller is Howard Weis. The deal was facilitated by James DeBuiser and Gary Cohen from Marcus & Millichap. They acted as brokers representing the respective parties in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$333,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,240.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,675.59
Annual Debt Service$356,107.12
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