Updated Dec 4, 2024
Graystone Capital Advisors Brokers $18M Sale Of Newport Beach Retail Building With Waterfront Views
2406 Newport Boulevard
$18,000,000
$3,157/SF
Building Size
5,700 SF
Asset Type
Retail
Closing
Jan 11, 2024
About this deal
AI
The $18 million sale of a 5,700 sq ft retail building in Newport Beach, California has been brokered by Graystone Capital Advisors. The property, located at 2406 Newport Boulevard, offers waterfront views and is situated on 0.3 acres of land.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $18,000,000
- Address: 2406 Newport Boulevard
- Market: Newport Beach
- Acres: 0.3
Matthew Hurdle of Graystone Capital Advisors facilitated the transaction, connecting the buyer, 2406 LLC, with the seller, James Boys LLC. The deal involved a sale price of $18 million, and the property spans a total of 5,700 square feet, resulting in a price per square foot of $3,158.
Newport Beach 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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93