Kal Patel Acquires Retail Property In Moreno Valley For $2.6M
SOLD
$2,600,000
California
See Similar DealsRetail93,500 SF
Sold 10/15/2020
SOLD
Kal Patel Acquires Retail Property In Moreno Valley For $2.6M
22275 Alessandro Blvd, Moreno Valley, CA 92553, USA
See Similar DealsRetail93,500 SF
Sold 10/15/2020
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$27
Total Square Footage:93,500 SF
Transaction Type:Sale
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.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$138,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92
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