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3553 Telegraph Road, Ventur...

Updated Oct 28, 2024

Mulne Family Trust Acquires Retail Property On Telegraph Rd In Ventura For $3.25M
SOLDRetail

Mulne Family Trust Acquires Retail Property On Telegraph Rd In Ventura For $3.25M

3553 Telegraph Road, Ventura, California 93003, United States

$3,250,000

$1,344/SF

Building Size

2,418 SF

Asset Type

Retail

Closing

Jul 31, 2022

About this deal

AI

The retail property located at 3553 Telegraph Rd in Ventura, California has been sold. The property is situated in a prime location on the sunny coast of Southern California.

Summary of transaction details

  • Property Type: Retail
  • Sale Price: $3,250,000
  • Square Footage: 2,418
  • Price per Square Foot: $1,344
  • Market: Ventura

The buyer of the property is the Mulne Family Trust, while the seller is the Storch Family Trust. Oron Maher from Maher Commercial Realty represented the buyer, and Chris Itule from Itule Real Estate Group, Inc. represented the seller in this transaction.

The sale of this retail property presented a rare opportunity for a quick-service restaurant (QSR) investment. The property was sold at a 4.07% cap rate, making it an attractive investment. The buyer was able to negotiate with the existing tenant during escrow to identify extension opportunities for the lease, adding immediate value to their investment.

This sale was part of a 1031 exchange for the buyer, who was representing an apartment building owner. The objective of the exchange was to eliminate ownership restrictions, increase cash-on-cash return, and reduce management responsibilities. This purchase proved to be a successful investment for the buyer.

If you are interested in quick-service restaurant or other net-leased retail opportunities, Maher Commercial Realty can assist you with your investment needs.

On the Map

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$3,250,000

$1,344/SF

Retail

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Players

Oron Maher

Maher Commercial Realty

Broker

$173.8M

vol

35 deals

Broker
T
TrustBuyer

Storch Family

Trust

Seller

$3.3M

vol

2 deals

Seller
Bilt advertisement

Ventura Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Deal FAQ

About $1.3K per square foot on a published $3.3M for 2,418 square feet (2022).

Visit Oron Maher to view all their deals.

Browse California retail sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.88%

Cash-on-Cash

-1.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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