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Chen Family Trust Acquires Menifee Retail Condo For $4.05M

Property Image
SOLD
$4,050,000
Steve Chang
Sean Heitzler
+ 1

California

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Retail6,000 SF
Sold 07/20/2020
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Property Image
SOLD

Chen Family Trust Acquires Menifee Retail Condo For $4.05M

29821 Antelope Rd, Menifee, CA 92584, USA

See Similar Deals
Retail6,000 SF
Sold 07/20/2020
Steve Chang
Sean Heitzler
+ 1
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$675
Total Square Footage:6,000 SF
Transaction Type:Sale

The retail condo located at 29821 Antelope Rd in Menifee/Inland Empire was recently sold for $4,050,000. This property spans 6,000 square feet and has a price per square foot of $675. It consists of two units, with a price per unit of $2,025,000.

Summary of transaction details:

  • Property Type: Retail Condo
  • Transaction Amount: $4,050,000
  • Address: 29821 Antelope Rd
  • Market: Menifee/Inland Empire
  • Square Footage: 6,000
  • Price per Square Foot: $675
  • Number of Units: 2
  • Price per Unit: $2,025,000

The buyer of the property is the Chen Family Trust, while the seller is Menifee Lakes Plaza. The deal was facilitated by brokers Steve Chang from KW Commercial, as well as Jimmy Slusher, Trent Steeves, and Sean Heitzler.

Players

Jimmy Slusher
16 deals$474.4M volume(949) 725-8507
BROKER

Sean Heitzler
CBRE
5 deals$107.1M volume
BROKER

Steve Chang
Chang Investment Group
11 deals$85.5M volume(626) 381-9885
BROKER

Trent Steeves
CBRE
3 deals$77.3M volume
BROKER

BUYER

Details

SOLD
IMAGE: IMAGE: Steve Chang, Jimmy Slusher, Sean Heitzler & Trent Steeves DATE: 07/20/2020 ADDRESS: 29821 Antelope Rd MARKET: Menifee/Inland Empire ASSET TYPE: Retail Condo PRICE: $4,050,000 SF: 6,000 PPSF: $675 UNITS: 2 PPU: $2,025,000 BUYER: Chen Family Trust SELLER: Menifee Lakes Plaza BROKERS: Steve Chang – KW Commercial; Jimmy Slusher, Trent Steeves, Sean Heitzler – […]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$216,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,388.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,199.07
Annual Debt Service$230,388.79