Leonard H. Lundin Acquires Retail Property In Fontana For $2.7M
SOLD
$2,700,000
California
See Similar DealsRetail15,180 SF
Sold 10/25/2023
SOLD
Leonard H. Lundin Acquires Retail Property In Fontana For $2.7M
17093 Valley Boulevard
See Similar DealsRetail15,180 SF
Sold 10/25/2023
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$177
Total Square Footage:15,180 SF
Transaction Type:Sale
The retail property located at 17093 Valley Boulevard in Fontana has been sold. The property spans 15,180 square feet and was sold for a price of $2,700,000, resulting in a price per square foot of $178. Additionally, the property has a building square footage of 30,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,700,000
- Buyer: Leonard H. Lundin, President - Mirlan, LP
- Seller: Red Mountain Group Inc.
- Broker: Lea Clay Park - Axiom Real Estate
- Square Footage: 15,180
- Price per Square Foot: $178
- Building Square Footage: 30,000
The transaction was facilitated by Lea Clay Park, a representative from Axiom Real Estate. Leonard H. Lundin, serving as the President of Mirlan, LP, purchased the property from Red Mountain Group Inc.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$144,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53
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