FP 10th Street Palmdale LLC Acquires Retail Property On 40033 10th Street W In Palmdale For $15.25M
SOLD
$15,250,000
California
See Similar DealsRetail56,101 SF
Sold 12/04/2019
SOLD
FP 10th Street Palmdale LLC Acquires Retail Property On 40033 10th Street W In Palmdale For $15.25M
40033 10th Street West, Palmdale, CA 93551, USA
See Similar DealsRetail56,101 SF
Sold 12/04/2019
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$271
Total Square Footage:56,101 SF
Transaction Type:Sale
A retail property located at 40033 10th Street W in Palmdale has been sold for a price of $15,250,000. The property covers an area of 56,101 square feet, with a price per square foot of $271.83. The property is anchored by US Army, Goodwill International, and Buffalo Wild Wings. The transaction took place off-market and the buyer, FP 10th Street Palmdale LLC, assumed a loan as part of the deal. The seller was 10th Street Palmdale LLC. The property was represented by Yitzy Pearson from Pearson Real Estate Group.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $15,250,000
- Address: 40033 10th Street W, Palmdale
- Market: Palmdale
- Square Footage: 56,101
- Price per Square Foot: $271.83
The buyer, FP 10th Street Palmdale LLC, assumed a loan in the transaction. Yitzy Pearson from Pearson Real Estate Group represented the buyer in the deal. The property is anchored by US Army, Goodwill International, and Buffalo Wild Wings.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$813,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$54,180.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$72,292.78
Annual Debt Service$867,513.36
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