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CBRE Brokers $3.9M Sale Of San Diego Restaurant Property To Private Buyer
SOLD
$3,900,000
California
See Similar DealsRetail8,915 SF
Sold 10/12/2023
SOLD
CBRE Brokers $3.9M Sale Of San Diego Restaurant Property To Private Buyer
16785 Bernardo Center Drive
See Similar DealsRetail8,915 SF
Sold 10/12/2023
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$437
Total Square Footage:8,915 SF
Transaction Type:Sale
The San Diego restaurant property located at 16785 Bernardo Center has been sold in a transaction brokered by CBRE. The 8,915-square-foot building was purchased for $3.9 million by a private buyer, with plans to open Sapphire Indian restaurant at the location.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,900,000
- Square Footage: 8,915
- Address: 16785 Bernardo Center, San Diego
- Market: San Diego
Congratulations to the Kim Family Trust, who sold the property, and the buyer's representative, AGAS Real Estate, for their involvement in the deal. CBRE's representatives, Reg Kobzi, Michael Peterson, and Joel Wilson, played a key role in facilitating the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$208,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88
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