Updated Dec 20, 2023
Pete Thrappas Acquires Retail Property In Hanford For $2.4M
550 West Lacey Boulevard, Hanford, California 93230, United States
$2,400,000
$1,188/SF
Building Size
2,020 SF
Asset Type
Retail
Closing
Mar 7, 2022
About this deal
AI
The retail property located at 550 W. Lacey Blvd. in Hanford has been sold. The transaction took place on March 8, 2022. The property, spanning 2,020 square feet, was purchased by Pete Thrappas for a total of $2,400,000. The sale price equates to approximately $1,188 per square foot. The sellers in this transaction were Bhupendrakumar M. Patel and Hansaben Patel.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,400,000
- Address: 550 W. Lacey Blvd.
- Market: Hanford
Matthew Luchs, Brandon Michaels, and Steven Schechter from The Brandon Michaels Group represented the buyer, Pete Thrappas, in this deal.
On the Map
$2,400,000
$1,188/SF
Retail
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Players
Hanford 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
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93