Clarence E. McClendon Acquires Retail Property In Inglewood For $3.6M
SOLD
$3,600,000
California
See Similar DealsRetail14,930 SF
Sold 05/24/2021
SOLD
Clarence E. McClendon Acquires Retail Property In Inglewood For $3.6M
2541 W Manchester Blvd, Inglewood, CA, USA
See Similar DealsRetail14,930 SF
Sold 05/24/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$241
Total Square Footage:14,930 SF
Transaction Type:Sale
The retail property located at 2541 W. Manchester Blvd. in Inglewood has been sold in a closed transaction. The transaction took place on 05/24/2021. The property is spread across 14,930 square feet and was sold for a price of $3,600,000, resulting in a price per square foot of $241. The transaction involved the buyer, Clarence E. McClendon, and the seller, Allrise Capital. The buyer was represented by brokers Ingrid Farias-Eisner & Laura Alice Scaturro.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,600,000
- Address: 2541 W. Manchester Blvd.
- Market: Inglewood
Clarence E. McClendon purchased the property from Allrise Capital. The transaction was facilitated by the brokers Ingrid Farias-Eisner & Laura Alice Scaturro. The sale of the retail asset showcases the active real estate market in Inglewood.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$192,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04
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