Updated Jan 28, 2025
Marinita-Sage Rancho LLC Sells 97,380 Square Foot Retail Center In Banning For $8.7 Million
300 South Highland Springs Avenue
Building Size
97,380 SF
Asset Type
Retail
Closing
Jan 23, 2025
About this deal
AI
The retail asset involved in the transaction is a 97,380-square-foot retail center located at 300 South Highland Springs Avenue in Banning. The property was sold for $8.7 million.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8.7 million
- Square Footage: 97,380
- Address: 300 South Highland Springs Avenue
- Market: Banning
- Seller: Rancho LLC
- Broker: Paul Bitonti - Marcus & Millichap
Paul Bitonti of Marcus & Millichap represented both the seller and the private investor in this transaction, facilitating the exchange between the parties involved in the sale of the retail center.
On the Map
Retail
View full map
Players
Banning Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Browse Banning retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93