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145 South Orange Street

Bobby Hrdina Buys Retail Property In Escondido From Garry Hanafin For $1.6M
SOLDRetail

Bobby Hrdina Buys Retail Property In Escondido From Garry Hanafin For $1.6M

145 South Orange Street & 412 West Second Avenue

$1,600,000

Building Size

Asset Type

Retail

Closing

Jun 10, 2024

AI

The retail property known as Escondido Commons, located at 145-49 South Orange Street & 412-20 West Second Avenue in Escondido, San Diego, was sold for $1.6 million. The property consists of 12 retail suites spread across three adjoining buildings, accompanied by two parking lots. At the time of the transaction, the property was fully leased to nine tenants.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,600,000
  • Address: 145-49 South Orange Street & 412-20 West Second Avenue
  • Market: Escondido

Nicholas Totah of Marcus & Millichap played a pivotal role as the broker in facilitating the sale of Escondido Commons. The buyer, Bobby Hrdina, represented STNC Properties LLC, while the seller was Garry Hanafin of The Hanafin Family Trust. This transaction brought together key individuals and companies in the real estate market of Escondido, San Diego.

Players

Nicholas Totah

Marcus & Millichap

Broker

$137.6M

vol

20 deals

Broker

Escondido 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

9.91%

Cash-on-Cash

-2.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93