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Ascend Properties Group Acquires Culver City Retail Property On Sepulveda Blvd. For $7.1M

Property Image
SOLD
$7,100,000

California

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Retail9,308 SF
Sold 05/10/2022
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Property Image
SOLD

Ascend Properties Group Acquires Culver City Retail Property On Sepulveda Blvd. For $7.1M

4235 Sepulveda Boulevard, Culver City, California 90230, United States

See Similar Deals
Retail9,308 SF
Sold 05/10/2022
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$762
Total Square Footage:9,308 SF
Transaction Type:Sale

Located in Culver City, the retail property at 4235 Sepulveda Blvd. has recently been sold. The transaction took place on 05/10/2022, with a sale price of $7,100,000. The property spans over 9,308 square feet, resulting in a price per square foot of $762. The buyer of the property was Ascend Properties Group, while the seller was Adopt & Shop Sepulveda. Ron Burkhardt from Newmark represented both parties as the broker in this deal.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $7,100,000
  • Address: 4235 Sepulveda Blvd.
  • Market: Culver City
  • Buyer: Ascend Properties Group
  • Seller: Adopt & Shop Sepulveda
  • Broker: Ron Burkhardt - Newmark
  • Square Footage: 9,308
  • Price per Square Foot: $762

Kevin Lachoff and Ron Burkhardt were involved in the transaction as shown in the image on Instagram.

Players

Ron Burkhardt
7 deals$34.1M volume(310) 201-2064
BROKER

Details

SOLD
IMAGE: Kevin Lachoff & Ron Burkhardt DATE: 05/10/2022 ADDRESS: 4235 Sepulveda Blvd. MARKET: Culver City ASSET TYPE: Retail BUYER: Ascend Properties Group (@Ascend_Properties) SELLER: Adopt & Shop Sepulveda BROKER: Ron Burkhardt - Newmark (@Newmark) SALE PRICE: $7,100,000 SF: 9,308 ~ PPSF: $762

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$25,224.79
Cash-on-Cash Return-1.27%
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