Bechirian Investments Acquires Hollywood Nightclub Retail Property For $9.74M
SOLD
$9,740,000
California
See Similar DealsRetail9,466 SF
Sold 10/26/2020
SOLD
Bechirian Investments Acquires Hollywood Nightclub Retail Property For $9.74M
1600 Argyle Avenue
See Similar DealsRetail9,466 SF
Sold 10/26/2020
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,028
Total Square Footage:9,466 SF
Transaction Type:Sale
Bechirian Investments has acquired a retail property in Hollywood. The nightclub, located at 1600 Argyle Ave, was sold by Elysium Group for a price of $9,740,000. The property spans 9,466 square feet, resulting in a price per square foot of $1,028. The transaction took place on October 26, 2020.
Summary of transaction details
- Property Type: Retail (Nightclub)
- Transaction Amount: $9,740,000
- Address: 1600 Argyle Ave
- Market: Hollywood
- Buyer: Bechirian Investments
- Seller: Elysium Group
- Brokers: Michael Sterman, Jeff Louks - Marcus & Millichap & Paul Brehme - Lee & Associates
- Square Footage: 9,466
- Price per Square Foot: $1,028
The deal was facilitated by Michael Sterman and Jeff Louks from Marcus & Millichap, along with Paul Brehme from Lee & Associates.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$519,466.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,604.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,172.57
Annual Debt Service$554,070.83
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