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Los Angeles Investor Acquires Chipotle Property In Sacramento's Natomas Market For $4.95M
SOLD
$4,950,000
California
See Similar DealsRetail2,347 SF
Sold 08/15/2023
SOLD
Los Angeles Investor Acquires Chipotle Property In Sacramento's Natomas Market For $4.95M
2650 Arena Blvd Sacramento, CA 95834, USA
See Similar DealsRetail2,347 SF
Sold 08/15/2023
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$2,109
Total Square Footage:2,347 SF
Transaction Type:Sale
A Sacramento Chipotle property with a drive-thru for online orders has been sold to a Los Angeles investor for $4.95 million, setting a record per-square-foot sale at 2650 Arena Blvd in Natomas. The property encompasses 2,347 square feet and sold at a price of $2,109 per square foot. The appeal of this property lies in Chipotle's 15-year lease and its proximity to an upcoming Costco store.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,950,000
- Address: 2650 Arena Boulevard
- Market: Natomas
- Seller: Chase Partners Ltd
- Buyer's Representative: Jenny Eng - CBRE
- Seller's Representatives: Bill Asher & Jeff Lefko - Hanley Investment Group
The buyer's representative in this deal was Jenny Eng from CBRE, while the seller's representatives were Bill Asher and Jeff Lefko from Hanley Investment Group.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$264,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,586.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,465.53
Annual Debt Service$281,586.30
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