Updated Dec 4, 2024
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
About this deal
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
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