Scannell Properties Acquires Retail Property In Fremont For $63.6M
SOLD
$63,600,000
California
See Similar DealsRetail560,000 SF
Sold 04/12/2022
SOLD
Scannell Properties Acquires Retail Property In Fremont For $63.6M
40517 Albrae Street, Fremont, California 94538, United States
See Similar DealsRetail560,000 SF
Sold 04/12/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$113
Total Square Footage:560,000 SF
Transaction Type:Sale
The retail property located at 40517-40525 Albrae Street in Fremont has been sold for a total of $63,600,000. The property spans approximately 560,000 square feet, resulting in a price per square foot of $113.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $63,600,000
- Date: 04/12/2022
- Buyer: Scannell Properties - Robert Scannell
- Seller: American Pacific International Capital
- Market: Fremont
Robert Scannell, representing Scannell Properties, was the buyer in this transaction. The seller was American Pacific International Capital.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,391,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$225,957.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$301,496.45
Annual Debt Service$3,617,957.37
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