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305 Avenue G, Redondo Beach...

Stace Jones Acquires Retail Property In Redondo Beach For $1.9M
SOLDRetail

Stace Jones Acquires Retail Property In Redondo Beach For $1.9M

305 Avenue G, Redondo Beach, CA 90277

$1,900,000

$1,241/SF

Building Size

1,530 SF

Asset Type

Retail

Closing

Oct 22, 2021

AI

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.

Players

Ryan Sharpe

Kidder Mathews

Broker

$82.5M

vol

20 deals

Broker

Redondo Beach 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

8.35%

Cash-on-Cash

-2.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93