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21035 Sherman Way

Jeh Meyer Acquires Canoga Park Retail Property For $4.5M
SOLDRetail

Jeh Meyer Acquires Canoga Park Retail Property For $4.5M

21035 Sherman Way

$4,500,000

$193/SF

Building Size

23,220 SF

Asset Type

Retail

Closing

Apr 19, 2023

AI

The retail property located at 21035 Sherman Way in Canoga Park has been sold in a recent transaction. The property spans an area of 23,220 square feet and was sold for a price of $4,500,000, which equates to a price per square foot of $194. The property was listed with an asking price of $4,500,090. The transaction took place on April 19, 2023.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $4,500,000
  • Address: 21035 Sherman Way, Canoga Park
  • Square Footage: 23,220
  • Market: Canoga Park

Jeh Meyer purchased the property from Devraj Keray. George Crawford from Kidder Mathews represented Jeh Meyer as the buyer's representative in the deal. On the seller's side, Blas Fernandez and Brian Vu, both from Blas Property Group - Keller Williams, represented Devraj Keray.

Players

Blas Fernandez

IKON Properties

Broker

$88.5M

vol

33 deals

Broker

Devraj Keray

Seller

$6.3M

vol

2 deals

Seller

Market 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

3.53%

Cash-on-Cash

-1.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93