Salvatore Giovannotto Acquires Retail Property In Palo Alto, CA For $8M
SOLD
$8,000,000
California
See Similar DealsRetail6,800 SF
Sold 05/02/2022
SOLD
Salvatore Giovannotto Acquires Retail Property In Palo Alto, CA For $8M
451 University Avenue, Palo Alto, California 94301, United States
See Similar DealsRetail6,800 SF
Sold 05/02/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,176
Total Square Footage:6,800 SF
Transaction Type:Sale
The retail property located at 451 University Ave in Palo Alto, CA has been sold. The transaction took place on 05/02/2022. The property encompasses 6,800 square feet and was sold for a total price of $8,000,000, resulting in a price per square foot of $1,176.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,000,000
- Address: 451 University Ave, Palo Alto, CA
- Square Footage: 6,800
The buyer of the property is Salvatore Giovannotto. On the other hand, the sellers include Michael W Bender, Faith Mary Ward, Lorna Joy Swain, Alan Swain, Terry A Stone, Donald R Stone, Robert Edward Naiche Shashinda, Lorna Joy Shashinda, and Twanet Swain Bender.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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