Updated Dec 21, 2023
Commercial Retail Associates Acquires Retail Property In Porterville For $2.9M
421 East Vandalia Avenue, Porterville
$2,900,000
$969/SF
Building Size
2,992 SF
Asset Type
Retail
Closing
Mar 11, 2021
About this deal
AI
Matthew Mousavi, Patrick Luther, and Bryan Cifranic facilitated the sale of a retail property located at 421 Vandalia Ave in Porterville. The transaction took place on 03/12/2021 and the property was sold for $2,900,000. The retail asset spans 2,992 square feet, resulting in a price per square foot of $969.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,900,000
- Date: 03/12/2021
- Address: 421 Vandalia Ave, Porterville
- Market: Porterville
The buyer was represented by Bryan Cifranic from Commercial Retail Associates Inc., while the seller was represented by Matthew Mousavi and Patrick Luther from SRS Real Estate Partners. With their expertise, the deal was successfully closed, resulting in the sale of the retail property.
Players
Porterville 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