Buddy Molway Acquires Retail Property In Corona Del Mar For $2.5M With Brokers James Lehigh & Nathan Holthouser
SOLD
$2,500,000
California
See Similar DealsRetail2,100 SF
Sold 06/27/2024
SOLD
Buddy Molway Acquires Retail Property In Corona Del Mar For $2.5M With Brokers James Lehigh & Nathan Holthouser
3840 Pacific Coast Highway
See Similar DealsRetail2,100 SF
Sold 06/27/2024
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,190
Total Square Footage:2,100 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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