Updated Oct 25, 2024
James Verpoten Acquires Retail Property In Long Beach For $5.35M
2610 Atlantic Avenue, Long Beach, CA 90806
$5,350,000
$486/SF
Building Size
11,000 SF
Asset Type
Retail
Closing
Oct 20, 2021
About this deal
AI
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.
On the Map
$5,350,000
$486/SF
Retail
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Players
Long Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.97%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93