SBH Real Estate Group Sells Property At 17064 Sierra Lakes Pkwy Fontana For $5.1 Million
SOLD
$5,100,000
California
See Similar DealsRetail4,000 SF
SOLD
SBH Real Estate Group Sells Property At 17064 Sierra Lakes Pkwy Fontana For $5.1 Million
17064 Sierra Lakes Pkwy, Fontana, CA...
See Similar DealsRetail4,000 SF
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,275
Total Square Footage:4,000 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail building located at 17064 Sierra Lakes Parkway in Fontana, California. The property has been sold for $5,100,000. It features 4,000 square feet of space and is situated on two acres. The property includes 16 gas pumps and houses a 7-Eleven, which is under a 15-year ground lease, paying an annual rent of $205,000 with scheduled rental increases of 10 percent every five years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,100,000.00
- Address: 17064 Sierra Lakes Pkwy, Fontana, CA
- Market: Fontana
- Seller: SBH Real Estate Group
- Seller's Representative: Jeremy McChesney - Hanley Investment Group- Real Estate Advisors
- Buyer: Undisclosed
- Buyer's Representative: Tom Carosella - Carosella Properties
- Square Footage: 4,000
This transaction was facilitated by Jeremy McChesney of Hanley Investment Group, representing the seller, Eric Silverman of SBH Real Estate Group. Tom Carosella of Carosella Properties represented the undisclosed buyer in the deal.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$271,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,119.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,176.60
Annual Debt Service$290,119.22
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