Masagana Properties Sells Lucerne Valley Property For $6.5M By Buyer Representatives Daniel Hurd And Jaime Salazar
SOLD
$6,500,000
California
See Similar DealsRetail18,200 SF
SOLD
Masagana Properties Sells Lucerne Valley Property For $6.5M By Buyer Representatives Daniel Hurd And Jaime Salazar
32510 Ca-18, Lucerne Valley, CA, 92356
See Similar DealsRetail18,200 SF
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$357
Total Square Footage:18,200 SF
Transaction Type:Sale
The property involved in this transaction is a two-property retail portfolio located at 32510 CA-18, Lucerne Valley, CA, 92356, within the Lucerne Valley market. The portfolio includes a 9,100-square-foot Dollar General, which was sold for $3.4 million. The total transaction price for the retail portfolio is $6,500,000, with a combined square footage of 18,200. The seller of the property is Masagana Properties.
Summary of transaction details:
- Property Type: Retail Portfolio
- Transaction Amount: $6,500,000.00
- Address: 32510 CA-18, Lucerne Valley, CA, 92356
- Buyer's Representative: Daniel Hurd, Jaime Salazar, Marcus & Millichap
- Buyer: Undisclosed
- Seller: Masagana Properties
- Square Footage: 18,200
Jaime Salazar and Daniel Hurd represented both the seller and the buyer in this transaction. Additionally, Garrett Fierstein of Marcus & Millichap facilitated a 10-year, fixed-rate loan with a 30-year amortization for the buyer, further detailing the financial structuring behind the acquisition.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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