Rami Darghalli Purchases Retail Center From Gary Tsai For $9.8 Million In Palmdale
422 West Avenue P
$9,800,000
$101/SF
Building Size
96,394 SF
Asset Type
Retail
Closing
Apr 24, 2025
AI
The asset involved in this transaction is a retail property located at 422 West Avenue P, Palmdale, with a total square footage of 96,394. The sale price for this property was $9,800,000, translating to a price per square foot of $101.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,800,000
- Buyer: Rami Darghalli
- Seller: Gary Tsai
- Broker: Josh Markowitz - Markowitz Commercial Real Estate
- Market: Palmdale
Josh Markowitz represented the broker for this off-market sale of the Palmdale Promenade, a shopping center previously anchored by 99 Cents Only. The property benefits from being shadow anchored by Home Depot and Burlington, and the buyer is looking to enhance the property's potential.
Palmdale Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.62%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93