Updated Dec 4, 2024
Matthews REIS Facilitates $5.8M Sale Of Chipotle And Panera Occupied Retail Strip In Merced
3110 R Street
$5,800,000
$828/SF
Building Size
7,005 SF
Asset Type
Retail
Closing
Jun 19, 2024
About this deal
AI
The retail strip center located at 3110 R Street in Merced, which spans 7,005 square feet, was recently sold for $5.8 million. The property, occupied by tenants like Chipotle and Panera Bread, fetched a price of $828 per square foot. Clay Smith of Matthews Real Estate Investment Services facilitated the transaction, with Chipotle renewing its lease for 10 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,800,000
- Market: Merced
- BROKER: Clay Smith - Matthews Real Estate Investment Services
- Tenants: Chipotle, Panera Bread
Matthews Real Estate Investment Services acted as the intermediary in the $5.8 million sale of the retail strip center at 3110 R Street. Clay Smith, representing the seller, played a pivotal role in the transaction, ensuring a successful deal involving prominent tenants like Chipotle and Panera Bread.
Players
Merced 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
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93