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26825 Auto Mall Parkway Mur...

Updated Oct 29, 2024

Blue Sky Management Acquires Auto Dealership In Murrieta For $10.2M
SOLDRetail

Blue Sky Management Acquires Auto Dealership In Murrieta For $10.2M

26825 Auto Mall Parkway Murrieta, California92562, USA

$10,200,000

$417/SF

Building Size

24,447 SF

Asset Type

Retail

Closing

Jun 2, 2023

About this deal

AI

Blue Sky Management, led by Michael Austin, has acquired an auto dealership in Murrieta, California for $10.2 million. The dealership is located at 26825 Auto Mall Parkway and sits on approximately 3.5 acres of land. The property spans a total of 24,447 square feet and was purchased from an entity connected to Hamid Ghadiri. The transaction was facilitated by American Business Bank.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $10,200,000
  • Address: 26825 Auto Mall Parkway
  • Market: Murrieta
  • Acres: 3.5

Blue Sky Management, represented by Michael Austin, successfully negotiated the acquisition of the auto dealership. The deal demonstrates the company's expansion strategy and commitment to the automotive industry. On the other side, Hamid Ghadiri acted as the seller in the transaction. Both parties were able to reach a mutually beneficial agreement, leading to a successful sale of the property.

Players

American Business Bank
American Business BankLender

Murrieta Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Deal FAQ

About $417 per square foot on a published $10.2M for 24,447 square feet (2023).

Browse California retail sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.56%

Cash-on-Cash

-0.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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