Updated Dec 4, 2024
Kevin Kwan Of Realiv Represents Buyer In $7 Million Retail Portfolio Sale In San Bernardino
2505 East Highland Avenue
$7,000,000
Building Size
—
Asset Type
Retail
Closing
Oct 30, 2024
About this deal
AI
A retail portfolio consisting of four properties located at 2505-2575 Highland Avenue in San Bernardino was sold for $7,000,000. The portfolio, leased to well-known tenants including IHOP, Wienerschnitzel, Taco Bell, and a 76 Gas Station, encompasses 1.5 acres designated for future development. The properties are noted for their high-traffic visibility from the nearby freeway, contributing to a diverse income stream.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,000,000
- Buyer’s Representative: Kevin Kwan - Realiv
- Seller’s Representatives: Lance Mordachini & Trinnie Lee - Progressive Real Estate Partners
The transaction was facilitated by Progressive Real Estate Partners, highlighting their role in brokering the deal. The involvement of Kevin Kwan from Realiv as the buyer's representative was instrumental in securing this portfolio aimed at high-traffic locations.
On the Map
$7,000,000
Retail
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Rialto Retail Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93