Hanley Investment Group And CBRE Group Inc. Sell Retail Property In Long Beach For $5M
SOLD
$5,000,000
+ 1
California
See Similar DealsRetail9,000 SF
Sold 11/08/2019
SOLD
Hanley Investment Group And CBRE Group Inc. Sell Retail Property In Long Beach For $5M
5354 E 2nd St, Long Beach, CA, USA
See Similar DealsRetail9,000 SF
Sold 11/08/2019
+ 1
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$555
Total Square Footage:9,000 SF
Transaction Type:Sale
Kevin Fryman, Carlos Lopez, Ed Hanley, and Nathan Holthouser of Hanley Investment Group and CBRE Group Inc. recently facilitated the sale of a retail property in Long Beach. The property, located at 5354 East 2nd St, was sold for a total price of $5,000,000. Spanning an area of 9,000 square feet, the retail asset offers a price per square foot of $555.5.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $5,000,000
- Address: 5354 East 2nd St
- Market: Long Beach
- Square Footage: 9,000
- Price Per Square Foot: $555.5
The deal was successfully negotiated by Kevin Fryman, Carlos Lopez, Ed Hanley, and Nathan Holthouser. Kevin Fryman, Carlos Lopez, and Ed Hanley of Hanley Investment Group, along with Nathan Holthouser of CBRE Group Inc., represented the parties involved in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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