Updated Oct 29, 2024
Kal Patel Acquires Retail Property In Moreno Valley For $2.6M
22275 Alessandro Blvd, Moreno Valley, CA 92553, USA
$2,600,000
$27/SF
Building Size
93,500 SF
Asset Type
Retail
Closing
Oct 14, 2020
About this deal
AI
A retail property located at 22275 Alessandro Boulevard in Moreno Valley has been sold in a transaction. The property spans across 9,350 square feet and was sold for a price of $2,600,000, resulting in a price per square foot of $278.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,600,000
- Square Footage: 9,350
- Address: 22275 Alessandro Boulevard, Moreno Valley
- Market: Moreno Valley
The buyer of the property is Kal Patel, while the seller is Wallis State Bank. The deal was facilitated by Elizabeth Clark and Kris Lowry from Compass.
On the Map
$2,600,000
$27/SF
Retail
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Players
Moreno Valley 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
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93