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Robert Kashani Acquires Retail Property In Redlands For $13.2M
SOLD
$13,200,000
California
See Similar DealsRetail49,105 SF
Sold 01/29/2024
SOLD
Robert Kashani Acquires Retail Property In Redlands For $13.2M
1655 Industrial Park Avenue
See Similar DealsRetail49,105 SF
Sold 01/29/2024
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$268
Total Square Footage:49,105 SF
Transaction Type:Sale
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
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$703,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,896.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$62,574.73
Annual Debt Service$750,896.81
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