SOLD
John Nik Acquires Retail In Los Angeles From Carlos Marquez For $5M
2603 South Central Avenue
Retail
20,920 SF
20,920 SF
Sold 19 days ago
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
Details
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.View on map
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Address2603 South Central Avenue
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