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GK Dermatology & Med Spa Acquires Retail Building On Mission Bay Drive In San Diego For $5.25M

Property Image
SOLD
$5,250,000
Steven Field
Chris Baumgart
Bryan Cunningham
+ 1

California

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Retail10,000 SF
Sold 10/12/2023
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Property Image
SOLD

GK Dermatology & Med Spa Acquires Retail Building On Mission Bay Drive In San Diego For $5.25M

4606 Mission Bay Drive

See Similar Deals
Retail10,000 SF
Sold 10/12/2023
Steven Field
Chris Baumgart
Bryan Cunningham
+ 1
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$525
Total Square Footage:10,000 SF
Transaction Type:Sale

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

Chris Baumgart
JLL
Chris Baumgart
8 deals$30.1M volume
BROKER
Steven Field
JLL
Steven Field
5 deals$150.6M volume
BROKER
Bryan Cunningham
JLL
Bryan Cunningham
2 deals$5.3M volume(858) 410-6326
BROKER
Ron Graves
Coldwell Banker
Ron Graves
1 deal$5.3M volume(858) 822-9215
BROKER

Details

SOLD
IMAGE: Chris Baumgart, Bryan Cunningham, Steven Field & Ron Graves DATE: 10/12/2023 ADDRESS: 4606 Mission Bay Drive MARKET: San Diego ASSET TYPE: Retail BUYER: GK Dermatology & Med Spa SELLER: SMP Realty, LLC BUYER'S REP: Ron Graves - Coldwell Banker (@ColdwellBanker) SELLER'S REP: Chris Baumgart, Steven Field & Bryan Cunningham - JLL (@JLL) SALE PRICE: $5,250,000 SF: 10,000 ~ PPSF: $525 NOTE: GK Dermatology and Med Spa has purchased a 10,000-square-foot retail building at 4606 Mission Bay Drive in San Diego for $5.25 million. The property will be used for their dermatology and med spa practice.

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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)-$18,652.13
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