Updated Oct 28, 2024
Signal Hill Petroleum Sells Retail Asset In Signal Hill, Long Beach For $28.3M
2633 Cherry Ave, Signal Hill, CA, USA
$28,300,000
$1,100/SF
Building Size
25,716 SF
Asset Type
Retail
Closing
May 2, 2021
About this deal
AI
Signal Hill Petroleum has sold a retail property located at 2633 Cherry Ave. in Signal Hill, Long Beach. The property was sold for a total price of $28,300,000. The sale took place on May 3, 2021.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $28,300,000
- Address: 2633 Cherry Ave.
- Market: Signal Hill, Long Beach
The sale was facilitated by Scott DeYoung and Jeff Conover from Faris Lee Investments, who represented the seller, Signal Hill Petroleum.
The retail sale at 2633 Cherry Ave, Signal Hill, CA, USA in Signal Hill, California sold for $28.3M in 2021. The building is 25,716 square feet, implying about 1.1K per square foot on the published price. Scott DeYoung, Jeff Conover, Faris Lee Investments appear on the sale alongside Faris Lee Investments. This page is the Signal Hill, California file for the 2633 Cherry Ave, Signal Hill, CA, USA retail sold: pricing, party profiles, and other closed retail comps from the same Signal Hill sit in the Market section below. Filter that Signal Hill retail set by closing date to see what else sold near 2633 Cherry Ave, Signal Hill, CA, USA around 2021. Published consideration for 2633 Cherry Ave, Signal Hill, CA, USA is $28.3M, dated 2021. Cite this Signal Hill Petroleum Sells Retail Asset In Signal Hill, Long Beach For $28.3M sale when underwriting similar retail product around Signal Hill, California.
Players
Signal Hill 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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93