Save Mart Sells Retail Asset In Bakersfield For $7.2M To ZDI And Soboroff Partners
SOLD
$7,225,000
California
See Similar DealsRetail352,666 SF
Sold 06/23/2020
SOLD
Save Mart Sells Retail Asset In Bakersfield For $7.2M To ZDI And Soboroff Partners
3200 Mall View Rd, Bakersfield, CA, USA
See Similar DealsRetail352,666 SF
Sold 06/23/2020
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$20
Total Square Footage:352,666 SF
Transaction Type:Sale
The property involved in this closed transaction is a retail asset located at 2800-3200 Mall View Rd in Bakersfield. The property spans 352,666 square feet and was sold for a total price of $7,225,000, resulting in a price per square foot of $20. The seller of the property was Save Mart.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,225,000
- Address: 2800-3200 Mall View Rd, Bakersfield
- Market: Bakersfield
The buyers involved in this transaction were Steve Zimmerman from ZDI and Michael Heslov from Soboroff Partners. The brokers representing the deal were Orbell Ovaness, Ara Rostamian, and Aren Ohanian from Marcus & Millichap. They facilitated the successful sale of the property on behalf of the buyers and the seller, Save Mart.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$385,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,668.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,250.19
Annual Debt Service$411,002.23
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