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

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.