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40033 10th Street West, Pal...

FP 10th Street Palmdale LLC Acquires Retail Property On 40033 10th Street W In Palmdale For $15.25M
SOLDRetail

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

$15,250,000

$271/SF

Building Size

56,101 SF

Asset Type

Retail

Closing

Dec 3, 2019

AI

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.

Players

Yitzy Pearson

Broker

$45.8M

vol

6 deals

Broker
1L
10th Street Palmdale LLCSeller

Palmdale 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

1.04%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93