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.
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