Balboa Retail Partners Acquires Retail Property On Floresta Blvd. For $12M
SOLD
$12,000,000
California
See Similar DealsRetail91,905 SF
Sold 06/13/2022
SOLD
Balboa Retail Partners Acquires Retail Property On Floresta Blvd. For $12M
250 Floresta Boulevard, San Leandro, California 94578, United States
See Similar DealsRetail91,905 SF
Sold 06/13/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$130
Total Square Footage:91,905 SF
Transaction Type:Sale
Located at 250 Floresta Blvd. in the Bay Area, this retail asset was recently sold for a total of $12,000,000. Spanning approximately 91,905 square feet, the property was purchased by Balboa Retail Partners from the seller, Michael Dayan. Brokers Daniel Tyner and Gleb Lvovich from JLL represented both parties in the transaction.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $12,000,000
- Address: 250 Floresta Blvd.
- Market: Bay Area
- Buyer: Balboa Retail Partners
- Seller: Michael Dayan
- Brokers: Daniel Tyner & Gleb Lvovich - JLL
- Square Footage: 91,905
- Price per Square Foot: $130
Gleb Lvovich and Daniel Tyner from JLL played a significant role as the brokers in this deal, representing both the buyer and seller respectively.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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