GK Dermatology & Med Spa Acquires Retail Building On Mission Bay Drive In San Diego For $5.25M
4606 Mission Bay Drive
$5,250,000
$525/SF
Building Size
10,000 SF
Asset Type
Retail
Closing
Oct 12, 2023
AI
GK Dermatology & Med Spa has acquired a 10,000-square-foot retail building located at 4606 Mission Bay Drive in San Diego. The property was purchased from SMP Realty, LLC for a total of $5.25 million. The retail building will be utilized by GK Dermatology & Med Spa for their dermatology and med spa practice.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,250,000
- Square Footage: 10,000
- Price Per Square Foot: $525
- Address: 4606 Mission Bay Drive, San Diego
- Market: San Diego
The buyer, GK Dermatology & Med Spa, was represented by Ron Graves from Coldwell Banker. On the other hand, the seller, SMP Realty, LLC, was represented by Chris Baumgart, Steven Field, and Bryan Cunningham from JLL.
Players
San Diego 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
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93