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3009 Lincoln Blvd, Santa Mo...

OC Smoke Acquires Retail Property In Santa Monica For $2.7M
SOLDRetail

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

T.C. Macker

WESTMAC Commercial Brokerage Company

Broker

$483.6M

vol

65 deals

Broker
RT
Revocable TrustSeller

Santa Monica Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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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