Updated Oct 28, 2024
Brandben, LLC Acquires Retail Property In Santa Monica For $1.68M
3221 Pico Blvd, Santa Monica, CA, USA
$1,679,888
$746/SF
Building Size
2,250 SF
Asset Type
Retail
Closing
Aug 19, 2021
About this deal
AI
The Retail property located at 3221 Pico Blvd. in Santa Monica has been sold. The transaction took place on August 20, 2021. The property, spanning 2,250 square feet, was sold for a price of $1,679,888, resulting in a price per square foot of $746. The buyers in this transaction were Brandben, LLC, while the seller was John Barthell.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,679,888
- Address: 3221 Pico Blvd.
- Market: Santa Monica
- Square Footage: 2,250
- Buyer: Brandben, LLC
- Seller: John Barthell
Representing the buyer, George Gross from Coldwell Banker Commercial NRT participated in the transaction. On the other hand, T.C. Macker and Jennifer Moscoso from WESTMAC Commercial Brokerage Company acted as representatives for the seller, John Barthell.
Players
Santa Monica 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
9.44%
Cash-on-Cash
-2.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93