Brad Geier's Merlone Geier Partners Acquires Retail Property In Inland Empire For $39.4M
SOLD
$39,400,000
California
See Similar DealsRetail182,653 SF
Sold 04/23/2021
SOLD
Brad Geier's Merlone Geier Partners Acquires Retail Property In Inland Empire For $39.4M
3650 Tyler Street, Riverside, CA, USA
See Similar DealsRetail182,653 SF
Sold 04/23/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$215
Total Square Footage:182,653 SF
Transaction Type:Sale
The retail property located at 3650-3790 Tyler Street in Inland Empire was recently sold in a transaction. The property spans a total of 182,653 square feet and is classified as a retail asset. The sale took place on April 23, 2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $39,400,000
- Address: 3650-3790 Tyler Street
- Market: Inland Empire
- Buyer: Brad Geier - Merlone Geier Partners
- Seller: Riverside Hamner Properties
- Brokers: Daniel Tyner & Gleb Lvovich - JLL
The buyer in this transaction was Brad Geier of Merlone Geier Partners, while the seller was Riverside Hamner Properties. The deal was facilitated by brokers Daniel Tyner and Gleb Lvovich from JLL. The property was sold for a total price of $39,400,000, resulting in a price per square foot of $215.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,101,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$139,979.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$186,776.10
Annual Debt Service$2,241,313.21
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