Centers Dynamic Partners & United Growth Acquires Retail Property In Temecula For $20M
SOLD
$20,000,000
California
See Similar DealsRetail70,000 SF
Sold 04/26/2022
SOLD
Centers Dynamic Partners & United Growth Acquires Retail Property In Temecula For $20M
32881 Temecula Parkway, Temecula, California 92592, United States
See Similar DealsRetail70,000 SF
Sold 04/26/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$285
Total Square Footage:70,000 SF
Transaction Type:Sale
A retail property located at 32881 Temecula Parkway in Temecula has been sold in a transaction valued at $20,000,000. The property spans 7.5 acres and offers a total square footage of 70,000. The sale was completed on April 26, 2022.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $20,000,000
- Address: 32881 Temecula Parkway
- Market: Temecula
- Size: 7.5 acres
The buyers in this transaction were Centers Dynamic Partners and United Growth. The property was sold by Vail Commercial Prop. The brokers involved in the deal were Joe Chichester and Matt Brooks from Faris Lee Investment.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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