Redondo Beach Retail Property Sells For $3.93M With Buyer's Rep Chris Thompson & Seller's Rep Ryan Sharpe

A retail property located at 226 S Prospect Ave in Redondo Beach has been sold in a recent transaction. The property spans a total of 4,960 square feet and was sold at a price of $3,930,000, resulting in a price per square foot of $792. The building square footage is 18,705, with a price per building square foot of $210. The property was listed with an asking price of $3,950,616, achieving a sale price close to the asking price. The transaction took place on September 22, 2020.

Summary of transaction details:

• Property Type: Retail
• Asking Price: $3,950,616
• Sale Price: $3,930,000
• Square Footage: 4,960
• Price Per Square Foot: $792
• Building Square Footage: 18,705
• Price Per Building Square Foot: $210
• Market: Redondo Beach
• Seller's Representative: Ryan Sharpe - Kidder Mathews
• Buyer's Representative: Chris Thompson - IREA
• CAP Rate: 4.07%

Ryan Sharpe from Kidder Mathews represented the seller in the transaction, while Chris Thompson from IREA represented the buyer. The deal reflects a cap rate of 4.07%, indicating a favorable return on investment for the buyer. The transaction signifies the active retail market in Redondo Beach and highlights the involvement of experienced brokers in the deal.