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Institutional Property Advisors Oversees $25.3M Sale Of Nohl Plaza In Orange With Seller's Rep Jose Carrazana, Patrick Toomey & Tom Lagos
SOLD
$25,300,000
California
See Similar DealsRetail103,639 SF
Sold 10/19/2023
SOLD
Institutional Property Advisors Oversees $25.3M Sale Of Nohl Plaza In Orange With Seller's Rep Jose Carrazana, Patrick Toomey & Tom Lagos
1440 East Lincoln Avenue
See Similar DealsRetail103,639 SF
Sold 10/19/2023
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$244
Total Square Footage:103,639 SF
Transaction Type:Sale
The leasehold interest in Nohl Plaza, Orange was sold for $25.3 million. The property, located at 1440 East Lincoln Avenue, is a retail asset spread across 10 acres. It offers a total of 103,639 square feet of space, with a price per square foot of $244.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $25,300,000
- Address: 1440 East Lincoln Avenue
- Market: Orange
- Acres: 10
- Square Footage: 103,639
- Price per Square Foot: $244
The sale was overseen by Institutional Property Advisors (IPA), part of Marcus & Millichap. The seller, Nohl Plaza LLC, was represented by Jose Carrazana, Patrick Toomey, and Tom Lagos of Institutional Property Advisors (IPA), who are part of Marcus & Millichap. The buyer's identity remains undisclosed.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,349,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$89,885.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$119,934.91
Annual Debt Service$1,439,218.89
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