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Talia Real Estate Acquires Retail Property In Riverside County From Maha Laxmi Gas For $2.95M

Property Image
SOLD
$2,950,000

California

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Retail2,750 SF
Sold
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SOLD

Talia Real Estate Acquires Retail Property In Riverside County From Maha Laxmi Gas For $2.95M

1701 West Florida Avenue, Hemet, Riverside County, CA, USA

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Retail2,750 SF
Sold
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1072
Total Square Footage:2750 SF
Transaction Type:Sale

An investment property located at 1701 West Florida Avenue in Riverside County has been sold in a recent transaction. The property, classified as a retail asset, was sold for a sale price of $2,950,000. The property spans a total of 2,750 square feet, resulting in a price per square foot of $1,072. The transaction was completed on 03/25/2021 between the buyer, Talia Real Estate, and the seller, Maha Laxmi Gas.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,950,000
  • Address: 1701 West Florida Avenue, Riverside County
  • Market: Riverside County
  • Buyer: Talia Real Estate
  • Seller: Maha Laxmi Gas
  • Asking Price: $2,800,000
  • Square Footage: 2,750
  • Price per Square Foot: $1,072

The deal was facilitated by Chandler J. Kelley, representing The Gas Broker™️ and Retail Link Associates. Chandler J. Kelley from The Gas Broker™️ acted as the buyer's representative in the transaction, while Retail Link Associates provided brokerage services. The involvement of these key individuals and companies in the deal highlights their role in bringing the transaction to fruition.

Players

Chandler J Kelley
11 deals$46M volume
BROKER

RW Real Estate
BUYER

Details

SOLD
IMAGE: Chandler J. Kelley DATE: 03/25/2021 ADDRESS: 1701 West Florida Avenue MARKET: Riverside County ASSET TYPE: Retail BUYER: Talia Real Estate SELLER: Maha Laxmi Gas BROKERS: Chandler J. Kelley (@SellBikeRun) - The Gas Broker™️ @TheGasBroker; Retail Link Associates ASKING PRICE: $2,800,000 SALE PRICE: $2,950,000 SF: 2,750 ~ PPSF: $1,072

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$157,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,480.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,984.51
Annual Debt Service$167,814.06