Mahmoud Abbasi Acquires Retail Property At 33490 Oak Glen Road Yucaipa For $10.8M
33490 Oak Glen Road
$10,800,000
$373/SF
Building Size
28,924 SF
Asset Type
Retail
Closing
Nov 7, 2024
AI
The retail asset located at 33490 Oak Glen Road in Yucaipa has been transacted for a price of $10,800,000. This property encompasses a total square footage of 28,924, translating to a price per square foot of $373.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,800,000
- Address: 33490 Oak Glen Road
- Market: Yucaipa
- Square Footage: 28,924
- Price Per Square Foot: $373
- Buyer: Mahmoud Abbasi
- Seller: Carl Brandstetter
- Brokers: Orbell Ovaness, Ara Rostamian & Ivan Prochko - Marcus & Millichap
The deal involved key individuals including buyer Mahmoud Abbasi and seller Carl Brandstetter, representing both ends of the transaction. The brokerage team from Marcus & Millichap, comprising Orbell Ovaness, Ara Rostamian, and Ivan Prochko, facilitated the transaction process.
Players
Yucaipa 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
1.47%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93