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Marc Korody Acquires Retail Property In San Jose, CA For $11.1M

Property Image
SOLD
$11,100,000

California

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Retail
Sold 11/21/2022
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Property Image
SOLD

Marc Korody Acquires Retail Property In San Jose, CA For $11.1M

5302 Monterey Road, San Jose, California 95111, United States

See Similar Deals
Retail
Sold 11/21/2022
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Retail
Transaction Type:Sale

The retail property located at 5302-5320 Monterey Highway in San Jose, CA has been sold for a price of $11,100,000. The transaction was finalized on November 21, 2022. The property is situated in the San Jose market.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $11,100,000
  • Buyer: Marc Korody
  • Broker: David Taxin - Meacham/Oppenheimer

David Taxin from Meacham/Oppenheimer represented Marc Korody in this transaction.

Players

David Taxin
Meacham Oppenheimer
David Taxin
4 deals$19.9M volume
BROKER

Details

SOLD
IMAGE: David Taxin DATE: 11/21/2022 ADDRESS: 5302-5320 Monterey Highway MARKET: San Jose, CA ASSET TYPE: Retail BUYER: Marc Korody BROKER: David Taxin - Meacham/Oppenheimer SALE PRICE: $11,100,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$592,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,435.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,619.66
Annual Debt Service$631,435.96