Iberia Martinez Acquires Retail Property In Highland Park For $6.7M
SOLD
$6,700,000
California
See Similar DealsRetail13,000 SF
Sold 01/20/2023
SOLD
Iberia Martinez Acquires Retail Property In Highland Park For $6.7M
6029-6039 N Figueroa St
See Similar DealsRetail13,000 SF
Sold 01/20/2023
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$515
Total Square Footage:13,000 SF
Transaction Type:Sale
The property involved in this transaction is a retail asset located at 6029-6039 N Figueroa St in Highland Park. The property spans approximately 13,000 square feet. The sale price for this property was $6,700,000, resulting in a price per square foot of $515.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,700,000
- Address: 6029-6039 N Figueroa St
- Market: Highland Park
- Square Footage: 13,000
- Buyer: Iberia Martinez
- Seller: David Soroudi
- Brokers: Matthew Luchs & Brandon Michaels - Brandon Michaels Group
The buyer in this transaction is Iberia Martinez, and the seller is David Soroudi. The deal was facilitated by brokers Matthew Luchs and Brandon Michaels from the Brandon Michaels Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$357,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,803.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,761.42
Annual Debt Service$381,137.02
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