Updated Dec 4, 2024
Arash Danialifar Acquires Retail Property In Pasadena For $2.5M With Buyer’s Rep Ally Commercial Real Estate
248 North Lake Avenue
$2,500,000
$388/SF
Building Size
6,442 SF
Asset Type
Retail
Closing
Jul 19, 2024
About this deal
AI
The property asset involved in this transaction is a retail strip center located at 248 North Lake Avenue in Pasadena, California. The sale was completed for a price of $2,500,000, which equates to a price per square foot of $388, encompassing a total area of 6,442 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,500,000
- Address: 248 North Lake Avenue
- Market: Pasadena
- Square Footage: 6,442
- Price Per Square Foot: $388
- Buyer: Arash Danialifar
- Seller: Larry Tashjian
- Buyer’s Rep: Jeffrey Ahn, Eric Mandell & Luc Hawkshaw - Ally Commercial Real Estate
- Seller’s Rep: Andrew Tashjian - Battleship Real Estate
Ally Commercial Real Estate represented the buyer in this acquisition, recognizing the property's potential to complement the buyer's existing portfolio. The involvement of Battleship Real Estate was noted in representing the seller, contributing to the conclusion of this transaction.
On the Map
$2,500,000
$388/SF
Retail
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Pasadena 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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93