Kevin Shoumian Acquires Retail Property In San Fernando For $5.9M
SOLD
$5,926,000
California
See Similar DealsRetail22,482 SF
Sold 01/23/2023
SOLD
Kevin Shoumian Acquires Retail Property In San Fernando For $5.9M
601 Maclay
See Similar DealsRetail22,482 SF
Sold 01/23/2023
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$263
Total Square Footage:22,482 SF
Transaction Type:Sale
The retail property located at 601 N Maclay Ave in San Fernando has been sold for a total of $5,926,000. This transaction involved a total area of 22,482 square feet, resulting in a price per square foot of $264. The property is situated in a desirable location in the San Fernando market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,926,000
- Square Feet: 22,482
- Price Per Square Foot: $264
- Address: 601 N Maclay Ave, San Fernando
Kevin Shoumian acted as the buyer in this transaction, while Soheil Satbani served as the seller. The deal was facilitated by Justin Kohanoff of Westgate Property Group, who represented both parties in the transaction.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$316,053.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,053.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,092.26
Annual Debt Service$337,107.16
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