Hanley Investment Group Arranges Sale Of Car Wash Property In Valencia For $3.7M
24050 Copper Hill Drive
$3,700,000
$867/SF
Building Size
4,263 SF
Asset Type
Retail
Closing
Oct 30, 2023
AI
A retail property located at 24050 Copper Hill Drive in Santa Clarita has been sold for $3,700,000. The property, which spans 4,263 square feet, was acquired by the buyer's representative, Jenny Eng of CBRE, on behalf of the buyer. The seller, Fountainhead Development, was represented by Bill Asher and Jeff Lefko of Hanley Investment Group. This transaction represents a price per square foot of $868.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,700,000
- Address: 24050 Copper Hill Drive
- Market: Santa Clarita
- Buyer's Representative: Jenny Eng - CBRE
- Seller's Representative: Bill Asher & Jeff Lefko - Hanley Investment Group
- Square Footage: 4,263
- Price per Square Foot: $868
Hanley Investment Group Real Estate Advisors facilitated the sale of this car wash property to BLISS Car Wash. The property is currently under construction and will be occupied by BLISS Car Wash on a triple-net lease. Demand for such properties in the Santa Clarita market remains strong, attracting investors and developers alike.
Players
Valencia 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
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93