Stace Jones Acquires Retail Property In Redondo Beach For $1.9M
SOLD
$1,900,000
California
See Similar DealsRetail1,530 SF
Sold 10/22/2021
SOLD
Stace Jones Acquires Retail Property In Redondo Beach For $1.9M
305 Avenue G, Redondo Beach, CA 90277
See Similar DealsRetail1,530 SF
Sold 10/22/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,241
Total Square Footage:1,530 SF
Transaction Type:Sale
The retail property located at 305 Avenue G in Redondo Beach has been sold for $1,900,000. The property spans 1,530 square feet and has a price per square foot of $1,241. The transaction took place on 10/22/2021. The buyer is Stace Jones, and the seller is Ben Nathanson. Richard Melbye and John Lane from CBRE represented the buyer, while Ryan Sharpe from Kidder Mathews represented the seller.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,900,000
- SF: 1,530
- PPSF: $1,241
The sale of the property at 305 Avenue G was facilitated by Richard Melbye and John Lane from CBRE, who represented the buyer, Stace Jones. Ryan Sharpe from Kidder Mathews represented the seller, Ben Nathanson. The transaction was completed on 10/22/2021 in Redondo Beach.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$101,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,750.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,006.97
Annual Debt Service$108,083.63
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