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2603 South Central Avenue
SOLD

John Nik Acquires Retail In Los Angeles From Carlos Marquez For $5M

2603 South Central Avenue

Retail
20,920 SF
clock iconSold 51 days ago
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Summary

Sale
CALIFORNIA
Retail
20,920 sqft

The property at 2603 South Central Avenue in Los Angeles, a retail asset, was recently sold for $5,000,000. Spanning 20,920 square feet, the property was acquired by Jacob Sayed from the seller Carlos Marquez. The transaction was facilitated by Gabriel Talasazan from Beverly & Company.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $5,000,000
  • SF: 20,920
  • Price Per Square Foot: $239
  • Buyer: Jacob Sayed
  • Seller: Carlos Marquez
  • Broker: Gabriel Talasazan - Beverly & Company

The sale of the property was an off-market transaction involving a real estate and business sale. The property, known as the Original Marquez Service Station, has been a landmark in the area for over 45 years. Initially part of a larger portfolio of gas stations owned by the Marquez family, this station was the first one they acquired and the last one they retained. The station has recently been debranded from Valero and the new owner has the option to rebrand with a more reputable company.

Players

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    2

  • Agents

    1

  • Agencies

    1

Gabriel Talasazan's profile picture
Gabriel Talasazan
Beverly & Company-image
Realtor
$27.3M Sold

Details

Deal Summary
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SOLD
IMAGE: Gabriel Talasazan DATE: 02/26/2024 ADDRESS: 2603 South Central Avenue MARKET: Los Angeles ASSET TYPE: Retail BUYER: Jacob Sayed SELLER: Carlos Marquez BROKER: Gabriel Talasazan (@PejTalasazan) - Beverly & Company (@BeverlyCompany_) SALE PRICE: $5,000,000 SF: 20,920 ~ PPSF: $239 NOTE FROM BROKER: Real Estate & Business Sale - Off Market Sale, 45 year Ownership, Dual Representation, Portfolio Sale, Depreciation Sale, All Cash. The Original Marquez Service Station has been a benchmark in this area since the late 70's. From then on the Marquez family accumulated over 20+ Gas Stations in their portfolio. After they sold most of them, the family kept their first station on Central Ave. The station has now been sold to younger operator that has debranded the store from a Valero and will have the option to rebrand with a more reputable company.

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Address2603 South Central Avenue

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