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601 Maclay

Kevin Shoumian Acquires Retail Property In San Fernando For $5.9M
SOLDRetail

Kevin Shoumian Acquires Retail Property In San Fernando For $5.9M

601 Maclay

$5,926,000

$263/SF

Building Size

22,482 SF

Asset Type

Retail

Closing

Jan 23, 2023

AI

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.

Players

Justin Kohanoff

Broker

$107.5M

vol

12 deals

Broker

Soheil Satbani

Seller

$16.1M

vol

2 deals

Seller

San Fernando 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

2.68%

Cash-on-Cash

-0.77%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93