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Westside Luxury Real Estate Represents Buyer In $9M Palmdale Retail Sale

Property Image
SOLD
$9,000,000

California

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Retail56,309 SF
Sold
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Property Image
SOLD

Westside Luxury Real Estate Represents Buyer In $9M Palmdale Retail Sale

2220 E Palmdale Blvd, Palmdale, CA, USA

See Similar Deals
Retail56,309 SF
Sold
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$159
Total Square Footage:56,309 SF
Transaction Type:Sale

Located at 2220 E. Palmdale Blvd. in Palmdale, this retail property was recently sold for a price of $9,000,000. The transaction took place on 02/09/2021, with a total square footage of 56,309. With a price per square foot of $159, this retail asset represents a significant investment in the Palmdale market.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $9,000,000
  • Square Footage: 56,309
  • Price Per Square Foot: $159
  • Buyer's Representative: Joelle Kim - Westside Luxury Real Estate
  • Seller's Representatives: Chris Tramontano & John Redfield - SRS Real Estate Partners

The buyer, represented by Joelle Kim from Westside Luxury Real Estate, successfully acquired this retail property. On the other side, the seller was represented by Chris Tramontano and John Redfield from SRS Real Estate Partners. These key individuals and companies played crucial roles in facilitating this transaction, showcasing their expertise in the Palmdale market.

Players

Joelle Kim
1 deal$9M volume
BROKER

Chris Tramontano
SRS Real Estate Partners
6 deals$82.9M volume(949) 698-1112
BROKER

Details

SOLD
IMAGE: Chris Tramontano, John Redfield & Joelle Kim DATE: 02/09/2021 ADDRESS: 2220 E. Palmdale Blvd. MARKET: Palmdale ASSET TYPE: Retail BUYER’S REP: Joelle Kim - Westside Luxury Real Estate SELLER’S REP: Chris Tramontano & John Redfield - SRS Real Estate Partners SALE PRICE: $9,000,000 SF: 56,309 ~ PPSF: $159

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

$480,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10