Ken Sjoerd Acquires Sun City Car Wash In Menifee For $2M
28100 Bradley Road
$2,000,000
$98/SF
Building Size
20,383 SF
Asset Type
Retail
Closing
Apr 30, 2024
AI
The Sun City Car Wash in Menifee is a 7 Bay Self Serve Car Wash with an Automatic Rollover, built in 1990. The property located at 28100 Bradley Road in Menifee spans 20,383 square feet and was recently sold for $2,000,000, with a price per square foot of $98 in the Menifee market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,000,000
- Buyer: Ken Sjoerd
- Seller: John Gruebel
- Broker: Gabriel Talasazan - Beverly & Company
- Asset Type: Retail
- Address: 28100 Bradley Road
- Market: Menifee
- SF: 20,383
- PPSF: $98
The transaction involved a Real Estate & Business Sale, with 35 years of ownership. It was a Dual Representation deal, including a 1031 Exchange Sale and an All Cash Purchase. In 2023, the Developer/Operator of the car wash exchanged the property into another Self Serve Car Wash in Orange County.
Menifee Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93