Private Investor Group Acquired 1542 Orange St Redlands CA For $8M With Buyer's Rep Melody Waltz
SOLD
$8,000,000
California
See Similar DealsRetail39,339 SF
SOLD
Private Investor Group Acquired 1542 Orange St Redlands CA For $8M With Buyer's Rep Melody Waltz
1542 Orange St, Redlands, CA, 92374
See Similar DealsRetail39,339 SF
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$203
Total Square Footage:39,339 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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