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Steven Gelber Of Gelber Realty Corporation Represents Buyer In Sale Of Grocery Outlet For $6.05M
SOLD
$6,050,000
California
See Similar DealsRetail24,000 SF
Sold 11/06/2025
SOLD
Steven Gelber Of Gelber Realty Corporation Represents Buyer In Sale Of Grocery Outlet For $6.05M
27315 North Bay Road
See Similar DealsRetail24,000 SF
Sold 11/06/2025
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$252
Total Square Footage:24,000 SF
Transaction Type:Sale
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.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$322,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,494.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,680.09
Annual Debt Service$344,161.04
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