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Jong Dae Hong Acquires Retail Property In Baldwin Park, CA For $3.25M

Property Image
SOLD
$3,250,000
Dan Riley
Bill Durslag
+ 2

California

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Retail3,508 SF
Sold 10/03/2022
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Property Image
SOLD

Jong Dae Hong Acquires Retail Property In Baldwin Park, CA For $3.25M

14550 Baldwin Park Towne Center, Baldwin Park, California 91706, United States

See Similar Deals
Retail3,508 SF
Sold 10/03/2022
Dan Riley
Bill Durslag
+ 2
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$926
Total Square Footage:3,508 SF
Transaction Type:Sale

Located in Baldwin Park, CA, the retail property at 14550 Baldwin Park Towne Center was recently sold for $3,250,000. Spanning across 3,508 square feet, the property boasts a price per square foot of $926. The transaction was finalized on October 3, 2022.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $3,250,000
  • Address: 14550 Baldwin Park Towne Center, Baldwin Park, CA
  • Market: Baldwin Park, CA

The buyer in this transaction was Jong Dae Hong, while the seller was Rich Anthony. Facilitating the deal were Simon Mattox, Austin Wolitarsky, Dan Riley, Bill Durslag, and Kyle Woods of Socal Retail Advisory - CBRE.

Note that the property was listed with an asking price of $3,050,000, indicating that it was sold above the initial offer.

Players

Simon Mattox
20 deals$414.9M volume
BROKER

Dan Riley
CBRE
17 deals$524.7M volume
BROKER

Bill Durslag
CBRE
17 deals$391.9M volume
BROKER

Austin Wolitarsky
CBRE
21 deals$465.1M volume
BROKER

Kyle Woods
CBRE
15 deals$375.7M volume
BROKER

Details

SOLD
IMAGE: Austin Wolitarsky, Dan Riley, Simon Mattox, Bill Durslag & Kyle Woods DATE: 10/03/2022 ADDRESS: 14550 Baldwin Park Towne Center MARKET: Baldwin Park, CA ASSET TYPE: Retail BUYER: Jong Dae Hong SELLER: Rich Anthony BROKERS: Simon Mattox (@SimonMattox), Austin Wolitarsky (@WallyBoyuee), Dan Riley, Bill Durslag & Kyle Woods (@KWoodz_) - Socal Retail Advisory (@SocalRetailAdvisory) - CBRE (@CBRE) ASKING PRICE: $3,050,000 SALE PRICE: $3,250,000 SF: 3,508 ~ PPSF: $926

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$173,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,546.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,406.66
Annual Debt Service$184,879.90