Updated Nov 14, 2025
Steven Gelber Of Gelber Realty Corporation Represents Buyer In Sale Of Grocery Outlet For $6.05M
27315 North Bay Road
$6,050,000
$252/SF
Building Size
24,000 SF
Asset Type
Retail
Closing
Nov 6, 2025
About this deal
AI
A retail property located at 27315 North Bay Road in Lake Arrowhead has been sold for $6,050,000. The asset spans 24,000 square feet and is situated on 1.51 acres. The property was previously occupied by a single-tenant Grocery Outlet. The price per square foot for this transaction was $252.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,050,000
- Address: 27315 North Bay Road
- Market: Lake Arrowhead
- Asset Size: 24,000 SF
- Price Per Square Foot: $252
- Buyer's Representative: Steven Gelber - Gelber Realty Corporation
- Seller's Representatives: Bill Asher & Jeff Lefko - Hanley Investment Group
The sale involved Steven Gelber representing the buyer, who is a repeat 1031 investor from Los Angeles. The seller was represented by Bill Asher and Jeff Lefko from Hanley Investment Group, based in North San Diego County.
On the Map
$6,050,000
$252/SF
Retail
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Players
Blue Jay 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
2.62%
Cash-on-Cash
-0.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93