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Marcus & Millichap Arranges $10.3M Sale Of Gas Station Property In Riverside, Inland Empire

Property Image
SOLD
$10,300,000
Aren Ohanian
Rick Raymundo
Orbell Ovaness
+ 1

California

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Retail52,707 SF
Sold 02/07/2024
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Arranges $10.3M Sale Of Gas Station Property In Riverside, Inland Empire

2278 Main Street

See Similar Deals
Retail52,707 SF
Sold 02/07/2024
Aren Ohanian
Rick Raymundo
Orbell Ovaness
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$195
Total Square Footage:52,707 SF
Transaction Type:Sale

A gas station property located at 2278 Main Street in Riverside, Inland Empire has been sold for $10,300,000. The property includes a gas station, convenience store, express car wash, and vacant land, with a total square footage of 52,707. It is situated in the Retail market of Riverside.

Summary of transaction details

  • Property Type: Retail
  • Sale Price: $10,300,000
  • Square Footage: 52,707
  • Price per Square Foot: $195
  • Address: 2278 Main Street
  • Market: Riverside

The sale of this gas station property at 2278 Main Street was brokered by Marcus & Millichap, with the representation of Ara Rostamian, Aren Ohanian, Orbell Ovaness, and Rick Raymundo. The transaction was conducted by Marcus & Millichap, involved in arranging the deal for the buyer and seller.

Players

Orbell Ovaness
Marcus & Millichap
Orbell Ovaness
24 deals$210.7M volume(213) 943-1822
BROKER
Rick Raymundo
Marcus & Millichap
Rick Raymundo
52 deals$417.4M volume(818) 219-6146
BROKER
Ara Rostamian
Marcus & Millichap
Ara Rostamian
24 deals$210.7M volume(818) 823-0832
BROKER
Aren Ohanian
Marcus & Millichap
Aren Ohanian
6 deals$36.2M volume
BROKER

Details

SOLD
IMAGE: Aren Ohanian, Ara Rostamian, Orbell Ovaness & Rick Raymundo DATE: 02/07/2024 ADDRESS: 2278 Main Street MARKET: Riverside ASSET TYPE: Retail BROKERS: Ara Rostamian (@AraRostamian_cre), Aren Ohanian, Orbell Ovaness (@Orbell_Ovaness) & Rick Raymundo (@LACMultifamily) - Marcus & Millichap (@MarcusMillichapLosAngeles) SALE PRICE: $10,300,000 SF: 52,707 ~ PPSF: $195 NOTE: Marcus & Millichap arranged the $10.3 million sale of a gas station property at 2278 Main St. in Riverside, Inland Empire. The deal, brokered by Rick Raymundo, Orbell Ovaness, Ara Rostamian, and Aren Ohanian, included a 52,707-square-foot property with a gas station, convenience store, express car wash, and vacant land.

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

$549,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$36,593.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,827.25
Annual Debt Service$585,927.06