Albertsons Retail Condo In San Diego Sold For $22.1M With Buyer's Rep Alvin Mansour & Kevin Mansour - Marcus & Millichap And Seller's Rep Pasquale Ioele & Michael Burton - Flocke & Avoyer
SOLD
$22,100,000
+ 1
California
See Similar DealsRetail43,000 SF
Sold 05/15/2020
SOLD
Albertsons Retail Condo In San Diego Sold For $22.1M With Buyer's Rep Alvin Mansour & Kevin Mansour - Marcus & Millichap And Seller's Rep Pasquale Ioele & Michael Burton - Flocke & Avoyer
655 14th St, San Diego, CA 92101, USA
See Similar DealsRetail43,000 SF
Sold 05/15/2020
+ 1
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$514
Total Square Footage:43,000 SF
Transaction Type:Sale
An Alberstons retail condo located at 655 14th St in San Diego has been sold in a closed transaction. The property, totaling 43,000 square feet, was sold for a price of $22,100,000, resulting in a price per square foot of $513.
Summary of transaction details:
- Property Type: Retail condo
- Transaction Amount: $22,100,000
- Address: 655 14th St
- Market: San Diego
The deal was facilitated by Alvin Mansour and Kevin Mansour of Marcus & Millichap, along with Pasquale Ioele and Michael Burton of Flocke & Avoyer. These brokers represented the respective parties involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,178,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$78,516.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$104,765.27
Annual Debt Service$1,257,183.30
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