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16785 Bernardo Center Drive

CBRE Brokers $3.9M Sale Of San Diego Restaurant Property To Private Buyer
SOLDRetail

CBRE Brokers $3.9M Sale Of San Diego Restaurant Property To Private Buyer

16785 Bernardo Center Drive

$3,900,000

$437/SF

Building Size

8,915 SF

Asset Type

Retail

Closing

Oct 12, 2023

AI

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.

Players

Michael Peterson

CBRE

Broker

$214.5M

vol

15 deals

Broker

San Diego 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

4.07%

Cash-on-Cash

-1.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93