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Hamid Baher Acquires Retail Property At 408 31st Street Newport Beach For $1.8M

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SOLD
$1,800,000

California

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Retail1,000 SF
Sold 06/23/2024
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Property Image
SOLD

Hamid Baher Acquires Retail Property At 408 31st Street Newport Beach For $1.8M

408 31st Street

See Similar Deals
Retail1,000 SF
Sold 06/23/2024
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,800
Total Square Footage:1,000 SF
Transaction Type:Sale

The property asset involved in this transaction is a retail space located at 408 31st Street, Newport Beach. The sale price of the asset was $1,800,000, with a total square footage of 1000, resulting in a price per square foot of $1,800.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,800,000
  • Address: 408 31st Street
  • Market: Newport Beach
  • Square Footage: 1000
  • Price per Square Foot: $1,800
  • Buyer: Hamid Baher
  • Seller: Rene Barge
  • Broker: Nathan Holthouser - Coastal Commercial

This transaction involved key individuals including the buyer, Hamid Baher, and the seller, Rene Barge. The deal was facilitated by Nathan Holthouser representing Coastal Commercial, highlighting the collaboration between the parties in this closed transaction.

Players

Nathan Holthouser
9 deals$46.7M volume
BROKER

Details

SOLD
IMAGE: Nathan Holthouser DATE: 6/23/2024 ADDRESS: 408 31st Street MARKET: Newport Beach ASSET TYPE: Retail BUYER: Hamid Baher SELLER: Rene Barge BROKER: Nathan Holthouser (@Coastalcommercial_Cowboy) - Coastal Commercial (@CoastalCommercialAdvisors) SALE PRICE: $1,800,000 SF: 1000 ~ PPSF: $1,800

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$96,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
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