Rami Darghalli Purchases Retail Center From Gary Tsai For $9.8 Million In Palmdale
SOLD
$9,800,000
California
See Similar DealsRetail96,394 SF
Sold 04/24/2025
SOLD
Rami Darghalli Purchases Retail Center From Gary Tsai For $9.8 Million In Palmdale
422 West Avenue P
See Similar DealsRetail96,394 SF
Sold 04/24/2025
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$101
Total Square Footage:96,394 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$522,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,817.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,457.00
Annual Debt Service$557,484.00
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