James Verpoten Acquires Retail Property In Long Beach For $5.35M
SOLD
$5,350,000
California
See Similar DealsRetail11,000 SF
Sold 10/20/2021
SOLD
James Verpoten Acquires Retail Property In Long Beach For $5.35M
2610 Atlantic Avenue, Long Beach, CA 90806
See Similar DealsRetail11,000 SF
Sold 10/20/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$486
Total Square Footage:11,000 SF
Transaction Type:Sale
2610 Atlantic Ave, a retail property in Long Beach, was recently sold in a transaction that closed on October 20, 2021. The property spans 11,000 square feet and was sold for a price of $5,350,000, resulting in a price per square foot of approximately $486.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $5,350,000
- Square Footage: 11,000
- Address: 2610 Atlantic Ave
- Market: Long Beach
The buyer in this transaction was James Verpoten, while the seller was Michael Loboda. The deal was facilitated by brokers Brandon Michaels and Matthew Luchs from Marcus & Millichap.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$285,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,007.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,361.73
Annual Debt Service$304,340.75
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