Investec Real Estate Cos. Sells Retail Property In Palm Springs For $23.4M
Ramon Rd, Palm Springs, CA, USA
$23,400,000
$5,163/SF
Building Size
4,532 SF
Asset Type
Retail
Closing
Mar 24, 2021
AI
Investec Real Estate Cos. has sold a retail property located at 5001 East Ramon Road in Palm Springs. The transaction, facilitated by brokers Don MacLellan and Rick Chichester from Faris Lee Investments, closed on March 25, 2021.
Summary of transaction details:
- Property Type: Retail
- Sale Price: $23,400,000
- Address: 5001 East Ramon Road, Palm Springs
- Market: Palm Springs
The sale of the property signifies a significant transaction in the retail market. Don MacLellan and Rick Chichester from Faris Lee Investments represented the seller, Investec Real Estate Cos., in this deal.
Players
Cathedral City Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93