Wolfgang Jordan Acquires Retail Property In Long Beach From Alok Chanani
SOLD
$1,985,000
California
See Similar DealsRetail3,010 SF
Sold 02/01/2021
SOLD
Wolfgang Jordan Acquires Retail Property In Long Beach From Alok Chanani
1960 Santa Fe Ave, Long Beach, CA, USA
See Similar DealsRetail3,010 SF
Sold 02/01/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$659
Total Square Footage:3,010 SF
Transaction Type:Sale
Located at 1960 Santa Fe Ave in Long Beach, this retail property was recently sold in a closed transaction. The property spans a total area of 3,010 square feet, with a price per square foot of $659. The asset was listed with an asking price of $1,975,000 and ultimately sold for $1,985,000, resulting in a cap rate of 4.8%.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,985,000
- Market: Long Beach
Wolfgang Jordan was the buyer in this transaction, while Alok Chanani served as the seller. The deal was facilitated by brokers Chris Comfort and Kristen Sullivan.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$105,866.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,052.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,409.91
Annual Debt Service$112,918.95
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