Updated Dec 4, 2024
Greens Development Inc. Sells Retail Pad In Riverside For $5.8M With Hanley Investment Group
22430 Van Buren Boulevard
$5,800,000
$920/SF
Building Size
6,300 SF
Asset Type
Retail
Closing
Aug 20, 2024
About this deal
AI
A retail pad located at 22430 Van Buren Boulevard in Riverside was sold for $5,800,000. The asset spans 6,300 square feet, resulting in a price per square foot of $921. This property is part of Veteran’s Plaza and is currently occupied by tenants including Chipotle, MA Dental, and upcoming BHC Chicken.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,800,000
- Square Footage: 6,300
- Price per Square Foot: $921
- Address: 22430 Van Buren Boulevard
- Market: Riverside
- Seller: Greens Development Inc.
- Buyer's Representative: Justin Altemus - The Altemus Company
- Seller's Representatives: CJ Kiehler & Eric Wohl - Hanley Investment Group
The transaction was brokered by Hanley Investment Group, facilitating the sale to a 1031 exchange investor. The property was completed in 2020, adding to its market appeal and tenant diversification.
Players
March Air Reserve Base 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
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93