Stormland Group Sells Retail Property At 321 South California Avenue Palo Alto For $4.5M
321 South California Avenue
$4,500,000
$942/SF
Building Size
4,775 SF
Asset Type
Retail
Closing
Oct 1, 2024
AI
The property asset involved in this transaction is a retail space located at 321 South California Avenue in Palo Alto. It encompasses a total area of 4,775 square feet and has a sale price of $4,500,000, resulting in a price per square foot of $942.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,500,000
- Address: 321 South California Avenue
- Market: Palo Alto
- Seller: Stormland Group
- Broker Representatives: Ron E. Cruz, Nicole Lyon & James Chung - The Econic Company
The deal features key representatives from The Econic Company, namely Ron E. Cruz, Nicole Lyon, and James Chung, who played a significant role in facilitating the transaction on behalf of the seller, Stormland Group.
Players
Palo Alto 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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93