Michael Shanfeld Acquires Retail Property On E. Main St In Ventura For $5.1M
SOLD
$5,075,000
California
See Similar DealsRetail20,038 SF
Sold 12/11/2019
SOLD
Michael Shanfeld Acquires Retail Property On E. Main St In Ventura For $5.1M
2709 E Main St, Ventura, CA, USA
See Similar DealsRetail20,038 SF
Sold 12/11/2019
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$253
Total Square Footage:20,038 SF
Transaction Type:Sale
The retail property located at 2709 E. Main St in Ventura was recently sold for $5,075,000. The transaction took place on 12/11/2019, and the property spans a total area of 20,038 square feet. The price per square foot for this sale was $253.27. The property is situated in the Ventura market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,075,000
- Address: 2709 E. Main St
- Market: Ventura
The buyer of this property is Michael Shanfeld, who represented The Shanfeld Group, Inc. as their broker. The seller, on the other hand, was Lary A. Reid, who was represented by The Niki Group. This deal involved a net, net, net (NNN) lease agreement, with the tenant leasing the space through 2030.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$270,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,030.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,058.09
Annual Debt Service$288,697.07
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