Updated Sep 5, 2024
SRS Real Estate Partners Completes $6.875M Sale Of Superior Grocers Retail Property In Buena Park, CA
6931 La Palma Ave Buena Park, CA 90620, USA
$6,875,000
$201/SF
Building Size
34,199 SF
Asset Type
Retail
Closing
Aug 1, 2023
About this deal
AI
A record-breaking sale of a single-tenant retail property has been completed in Buena Park, CA. The property, located at 6931 La Palma Avenue, spans 1.72 acres and consists of a 34,199-square-foot retail space. The asset, occupied by Superior Grocers, was sold for an impressive price of $6,875,000, setting a new record for the lowest cap rate for a single-tenant grocery property in California this year.
Summary of Transaction Details:
- Property Type: Retail
- Sale Price: $6,875,000
- Square Footage: 34,199
- Address: 6931 La Palma Avenue, Buena Park
- Market: Buena Park
- Broker Representatives: Matthew Mousavi & Patrick Luther from SRS Real Estate Partners
The sale was facilitated by SRS Real Estate Partners' National Net Lease Group, with Matthew Mousavi and Patrick Luther serving as the brokers. This successful transaction not only showcases the expertise of the SRS Real Estate Partners team but also highlights the strong market demand for single-tenant retail properties in Buena Park, CA.
Players
Los Angeles 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
2.31%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93