OC Smoke Acquires Retail Property In Santa Monica For $2.7M
SOLD
$2,735,000
California
See Similar DealsRetail3,000 SF
Sold 02/19/2021
SOLD
OC Smoke Acquires Retail Property In Santa Monica For $2.7M
3009 Lincoln Blvd, Santa Monica, CA, USA
See Similar DealsRetail3,000 SF
Sold 02/19/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$911
Total Square Footage:3,000 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$145,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,716.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,965.30
Annual Debt Service$155,583.54
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