OC Smoke Acquires Retail Property In Santa Monica For $2.7M
3009 Lincoln Blvd, Santa Monica, CA, USA
$2,735,000
$911/SF
Building Size
3,000 SF
Asset Type
Retail
Closing
Feb 18, 2021
AI
A retail property located at 3009 Lincoln Blvd in Santa Monica has been sold for $2,735,000. The property spans 3,000 square feet, resulting in a price per square foot of $912. The sale took place on February 19, 2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,735,000
- Address: 3009 Lincoln Blvd, Santa Monica
- Market: Santa Monica
- Buyer: OC Smoke
- Seller: Robert Shiell Revocable Trust
- Buyer's Representative: T.C. Macker (@WestlaCre) and Jeffrey M. Pickett - WESTMAC Commercial Brokerage Company (@Westmac_Cre)
- Seller's Representative: Drew McAllister - NRE Commercial
WestlaCre's T.C. Macker and WESTMAC Commercial Brokerage Company's Jeffrey M. Pickett represented the buyer, OC Smoke, in the transaction. Drew McAllister of NRE Commercial served as the seller's representative. The property sale represents a significant transaction in the Santa Monica retail market.
Players
Santa Monica 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93