Mahmoud Abbasi Acquires Retail Property At 33490 Oak Glen Road Yucaipa For $10.8M
SOLD
$10,800,000
California
See Similar DealsRetail28,924 SF
Sold 11/07/2024
SOLD
Mahmoud Abbasi Acquires Retail Property At 33490 Oak Glen Road Yucaipa For $10.8M
33490 Oak Glen Road
See Similar DealsRetail28,924 SF
Sold 11/07/2024
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$373
Total Square Footage:28,924 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$576,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$38,370.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$51,197.51
Annual Debt Service$614,370.12
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