Alcatraz475 & Birch8330 LP Acquire Retail Property On Broadway In El Cajon For $8.2M
SOLD
$8,200,000
California
See Similar DealsRetail25,460 SF
Sold 02/22/2022
SOLD
Alcatraz475 & Birch8330 LP Acquire Retail Property On Broadway In El Cajon For $8.2M
701 Broadway, El Cajon, California 92021, United States
See Similar DealsRetail25,460 SF
Sold 02/22/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$322
Total Square Footage:25,460 SF
Transaction Type:Sale
The retail property located at 701-777 Broadway in El Cajon has been recently sold for $8,200,000. Spanning across 25,460 square feet, this transaction resulted in a price per square foot of $323. The sale took place on February 22, 2022, between the buyer, Alcatraz475 LP & Birch8330 LP, and the seller, Broadway Center Associates.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,200,000
- Address: 701-777 Broadway, El Cajon
- Market: El Cajon
- Square Footage: 25,460
The buyer was represented by Bing Udinsky from The Udinsky Group, while the seller was represented by Brian Crepeau & Vanessa Reza from Pacific Coast Commercial. This successful real estate deal showcases the expertise and negotiation skills of these parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$437,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,132.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,872.18
Annual Debt Service$466,466.20
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