Updated Oct 29, 2024
Pacific West Property Group Inc. Sells Retail Property In Long Beach For $4.5M With Buyer's Rep Alan Wong And Seller's Rep Adam Friedlander
5865 E Spring St, Long Beach, CA, USA
$4,500,000
$2,447/SF
Building Size
1,839 SF
Asset Type
Retail
Closing
Mar 15, 2021
About this deal
AI
The retail property located at 5865 E. Spring St. in Long Beach has been sold for $4,500,000. The property has a total square footage of 1,839, resulting in a price per square foot of $2,446.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,500,000
- Date: 03/16/2021
- Address: 5865 E. Spring St.
- Market: Long Beach
- Seller: Pacific West Property Group Inc.
- Buyer's Representative: Alan Wong - DAAG Developments
- Seller's Representative: Adam Friedlander - JLL Capital Markets
- Square Footage: 1,839
- Price per Square Foot: $2,446
Alan Wong, representing DAAG Developments, acted as the buyer's representative in the transaction. Adam Friedlander, from JLL Capital Markets, represented the seller, Pacific West Property Group Inc.
On the Map
$4,500,000
$2,447/SF
Retail
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Long Beach 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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93