Mike Kamel Acquires Retail Property At 6110-26 University Avenue From Al & Mary Vega For $2.2M
6110 University Avenue
$2,200,000
$293/SF
Building Size
7,500 SF
Asset Type
Retail
Closing
Jun 11, 2025
AI
The asset involved in this transaction is a retail property located at 6110-26 University Avenue in the San Diego market. The sale was executed for a total price of $2,200,000, with a square footage of 7,500. The price per square foot amounts to $293.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $2,200,000
- Square Footage: 7,500
- Price Per Square Foot: $293
- Buyer: Mike Kamel
- Seller: Al & Mary Vega
- Seller's Representative: Erik Egelko - Palm Tree Properties
- Market: San Diego
- Note: All Cash Transaction
This transaction involved key individuals including buyer Mike Kamel and sellers Al & Mary Vega, with Erik Egelko representing the sellers through Palm Tree Properties. The all cash nature of this transaction highlights a straightforward deal without financing contingencies.
Players
San Diego 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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93