Diamond Properties Sells 1.36 Acre Retail Property In Lake Elsinore For $10.5M
SOLD
$10,500,000
+ 1
California
See Similar DealsRetail13,676 SF
Sold 11/29/2021
SOLD
Diamond Properties Sells 1.36 Acre Retail Property In Lake Elsinore For $10.5M
160 Diamond Drive, Lake Elsinore, CA, USA
See Similar DealsRetail13,676 SF
Sold 11/29/2021
+ 1
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$767
Total Square Footage:13,676 SF
Transaction Type:Sale
The retail property located at 160 Diamond Drive in Lake Elsinore has been sold in a recent transaction. The property spans across 1.36 acres and offers a total of 13,676 square feet of space. The sale took place on November 29, 2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $10,500,000
- Address: 160 Diamond Drive
- Market: Lake Elsinore
- ACRES: 1.36
Diamond Properties served as the seller in this transaction. The deal was facilitated by Jeremy McChesney, Bill Asher, and Jeff Lefko from Hanley Investment Group Real Estate Advisors, along with Oliver Wang from RE/MAX Premier Properties. The property was purchased for a price of $10,500,000, translating to a price per square foot of $767.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$559,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,304.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,775.36
Annual Debt Service$597,304.28
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