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3840 Pacific Coast Highway

Buddy Molway Acquires Retail Property In Corona Del Mar For $2.5M With Brokers James Lehigh & Nathan Holthouser
SOLDRetail

Buddy Molway Acquires Retail Property In Corona Del Mar For $2.5M With Brokers James Lehigh & Nathan Holthouser

3840 Pacific Coast Highway

$2,500,000

$1,190/SF

Building Size

2,100 SF

Asset Type

Retail

Closing

Jun 27, 2024

AI

The retail asset located at 3840 Pacific Coast Highway in the Corona del Mar market has been sold for a transaction price of $2,500,000. This property spans a total square footage of 2,100, resulting in a price per square foot of $1,190.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,500,000
  • Buyer: Buddy Molway
  • Seller: Pete Duca, Marie Duca & Sharon McCoy
  • Brokers: James Lehigh & Nathan Holthouser - Coastal Commercial

The transaction features notable individuals including Buddy Molway as the buyer and a group comprised of Pete Duca, Marie Duca, and Sharon McCoy as the sellers. The deal was facilitated by brokers James Lehigh and Nathan Holthouser representing Coastal Commercial.

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

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93