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6110 University Avenue

Mike Kamel Acquires Retail Property At 6110-26 University Avenue From Al & Mary Vega For $2.2M
SOLDRetail

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

Erik Egelko

Palm Tree Properties

Broker

$18.2M

vol

5 deals

Broker
Palm Tree Properties
Palm Tree PropertiesBrokerage

San Diego Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

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