Nazareth Enterprises Acquires Retail Property In San Mateo For $7.3M
SOLD
$7,300,000
California
See Similar DealsRetail7,500 SF
Sold 02/23/2021
SOLD
Nazareth Enterprises Acquires Retail Property In San Mateo For $7.3M
616 S B St, San Mateo, CA, USA
See Similar DealsRetail7,500 SF
Sold 02/23/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$973
Total Square Footage:7,500 SF
Transaction Type:Sale
Located at 616 S B St in San Mateo, this retail property was recently sold in a closed transaction. The property spans approximately 7,500 square feet and was sold for a price of $7,300,000, resulting in a price per square foot of $973. The transaction took place on 02/23/2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,300,000
- Address: 616 S B St, San Mateo
- Market: San Mateo
The buyer in this transaction was Nazareth Enterprises. The deal was facilitated by Richard Beale from Beale Properties, Mitch Zeemont, and Tony Kaufmann from Gantry.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$389,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,935.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,605.72
Annual Debt Service$415,268.69
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