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Benecia Avenue LLC Acquires Sylvia Square Retail Strip Center In Torrance For $6.7M

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SOLD
$6,700,000

California

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Retail15,234 SF
Sold 05/26/2023
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SOLD

Benecia Avenue LLC Acquires Sylvia Square Retail Strip Center In Torrance For $6.7M

23811 Hawthorne Blvd Torrance, CA 90505, USA

See Similar Deals
Retail15,234 SF
Sold 05/26/2023
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$439
Total Square Footage:15,234 SF
Transaction Type:Sale

Sylvia Square, a retail strip center located at 23811-23827 Hawthorne Boulevard in Torrance, has been sold for $6.7 million. The transaction was brokered by NAI Capital Commercial, with the seller, Sylvia Square Properties LLC, and the buyer, Benecia Avenue LLC, both represented by NAI agents Sheri Messerlian and David Shaby. The property spans 15,234 square feet and was sold at a price per square foot of $440.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $6,700,000
  • Address: 23811-23827 Hawthorne Boulevard
  • Market: Torrance
  • Buyer: Benecia Avenue LLC
  • Seller: Sylvia Square Properties LLC
  • Brokers: Sheri Messerlian & David Shaby - NAI Capital Commercial
  • Square Footage: 15,234
  • Price per Square Foot: $440

NAI Capital Commercial facilitated the transaction of Sylvia Square, a retail strip center in Torrance. Sheri Messerlian and David Shaby, representing NAI Capital Commercial, acted as brokers for both the buyer and seller in the $6.7 million sale.

Players

Sheri Messerlian
9 deals$84.6M volume
BROKER

David Shaby
NAI Capital Commercial
4 deals$130.6M volume(310) 683-8767
BROKER

SELLER

Details

SOLD
IMAGE: Sheri Messerlian & David Shaby DATE: 05/26/2023 ADDRESS: 23811-23827 Hawthorne Boulevard MARKET: Torrance ASSET TYPE: Retail BUYER: Benecia Avenue LLC SELLER: Sylvia Square Properties LLC BROKERS: Sheri Messerlian & David Shaby - NAI Capital Commercial SALE PRICE: $6,700,000 SF: 15,234 ~ PPSF: $440 NOTE: Sylvia Square, a retail strip center in Torrance, has been sold for $6.7 million in a transaction brokered by NAI Capital Commercial. The seller, Sylvia Square Properties LLC, and the buyer, Benecia Avenue LLC, were represented by NAI agents Sheri Messerlian and David Shaby.

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$23,803.70
Cash-on-Cash Return-1.27%
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