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3838 Pacific Coast Highway

Cassiana Marinho Purchases Retail Property In Corona Del Mar For $2.6 Million With Broker Representation
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Cassiana Marinho Purchases Retail Property In Corona Del Mar For $2.6 Million With Broker Representation

3838 Pacific Coast Highway

$2,600,000

$1,040/SF

Building Size

2,500 SF

Asset Type

Retail

Closing

Sep 17, 2024

AI

The property asset involved in this transaction is a retail space located at 3838 Pacific Coast Highway in the Corona del Mar market. The sale price for the property was $2,600,000, with a total square footage of 2,500, resulting in a price per square foot of $1,040.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,600,000
  • Address: 3838 Pacific Coast Highway
  • Market: Corona del Mar
  • Buyer: Cassiana Marinho
  • Seller: Said Shokrian
  • Buyer's Representative: Jared Swedelson - NAI Global
  • Seller's Representative: Nathan Holthouser - Coastal Commercial
  • Lender: Aaron Singer - Bank of America

Key individuals involved in this transaction include Cassiana Marinho, who acted as the buyer, and Said Shokrian, who was the seller. The buyer was represented by Jared Swedelson from NAI Global, while the seller's interests were represented by Nathan Holthouser of Coastal Commercial. The financing for the transaction was facilitated by Aaron Singer from Bank of America.

Players

Nathan Holthouser

Coastal Commercial

Broker

$46.7M

vol

9 deals

Broker

Corona Del Mar 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

6.10%

Cash-on-Cash

-1.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93