Updated Dec 4, 2024
Robert Kashani Acquires Retail Property In Redlands For $13.2M
1655 Industrial Park Avenue
$13,200,000
$268/SF
Building Size
49,105 SF
Asset Type
Retail
Closing
Jan 29, 2024
About this deal
AI
A 49,105 square foot auto collision center located at 1655 Industrial Park Avenue in Redlands was sold for $13.2 million. The property includes two industrial-style buildings situated on over four acres of land. The sale price translates to $269 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $13,200,000
- Address: 1655 Industrial Park Avenue, Redlands
- Market: Redlands
Robert Kashani purchased the auto collision center from David Marvin. The transaction involved new debt of $10.56 million from Ally Bank.
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
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93