Vallejo Family Trust Acquires Retail Property On Pacific Coast Highway For $5.1M
SOLD
$5,105,000
California
See Similar DealsRetail3,344 SF
Sold 01/05/2024
SOLD
Vallejo Family Trust Acquires Retail Property On Pacific Coast Highway For $5.1M
2900 Pacific Coast Highway
See Similar DealsRetail3,344 SF
Sold 01/05/2024
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,526
Total Square Footage:3,344 SF
Transaction Type:Sale
The retail property located at 2900 Pacific Coast Highway in Corona del Mar has been sold. The property spans 3,344 square feet and was sold at a price of $5,105,000, resulting in a price per square foot of $1,527.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,105,000
- Square footage: 3,344
- Address: 2900 Pacific Coast Highway, Corona del Mar
- Market: Corona del Mar
The buyer of the property is the Vallejo Family Trust, represented by Joseph & Lisa Vallejo. The sellers are Robert Newman, Harry Neman, Massoud Ahdout, and Saeed Ahdout. The transaction was facilitated by Nathan Holthouser of Coastal Commercial.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$272,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,136.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,200.30
Annual Debt Service$290,403.65
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