Marcus & Millichap Facilitates Sale Of Retail Center In San Diego For $2.9M
4200 Adams Avenue
$2,900,000
$620/SF
Building Size
4,673 SF
Asset Type
Retail
Closing
Nov 4, 2024
AI
Adams Heritage Row is a retail center situated at 4200-04 Adams Avenue in San Diego, featuring a total area of 4,673 square feet. The property was sold for $2,900,000, translating to a price per square foot of $621. This retail center, built in 1935, includes established tenants such as Pappalecco Italian Café and The OAS Center, in addition to a seven-space parking lot.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $2,900,000
- Address: 4200-04 Adams Avenue, San Diego
- Square Footage: 4,673
- Price Per Square Foot: $621
- Seller: The Davis/Logan Family Trust
- Brokers: Nicholas Totah & Ross Sanchez - Marcus & Millichap
The transaction was facilitated by Marcus & Millichap, representing the Davis/Logan Family Trust in the sale to an undisclosed buyer. The brokers involved, Nicholas Totah and Ross Sanchez, played a key role in the successful completion of this deal within the San Diego market.
Players
San Diego 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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93