Updated Oct 29, 2024
Private Investor Group Acquired 1542 Orange St Redlands CA For $8M With Buyer's Rep Melody Waltz
1542 Orange St, Redlands, CA, 92374
$8,000,000
$203/SF
Building Size
39,339 SF
Asset Type
Retail
Closing
Nov 20, 2023
About this deal
AI
The Grove, a neighborhood retail center located at 1542 Orange St, Redlands, CA, 92374, was sold for $8,000,000.00. The property encompasses 39,339 square feet of retail space and was built in two phases in 1987 and 1990. At the time of the sale, the property was 80 percent occupied, with Circle K serving as the anchor tenant.
Summary of transaction details:
- Property Type: Retail Center
- Transaction Amount: $8,000,000.00
- Address: 1542 Orange St, Redlands, CA, 92374
- Market: Redlands
- Buyer's Representative: Melody Waltz - Realty Executives Riverside
- Seller's Representative: Greg Bedell - Progressive Real Estate Partners
- Buyer: Private Investor Group
- Seller: Undisclosed
- Square Footage: 39,339
Melody Waltz represented the buyer, a private investor group based in Riverside County, while Greg Bedell represented the undisclosed seller from Los Angeles County in this transaction.
On the Map
$8,000,000
$203/SF
Retail
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Players
Redlands 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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93