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Faris Lee Investments Facilitates $5.3 Million Sale Of Retail Property Leased To The Learning Experience
SOLD
$5,300,000
California
See Similar DealsRetail9,990 SF
Sold 10/15/2024
SOLD
Faris Lee Investments Facilitates $5.3 Million Sale Of Retail Property Leased To The Learning Experience
7055 North Blythe Avenue
See Similar DealsRetail9,990 SF
Sold 10/15/2024
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$530
Total Square Footage:9,990 SF
Transaction Type:Sale
A newly built, single-tenant retail property located at 7055 North Blythe Avenue in Fresno has been sold for $5,300,000. The asset spans 9,990 square feet and is situated on 1.07 acres. The property serves as a long-term lease site for The Learning Experience daycare under a 20-year net lease agreement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,300,000
- Asset Size: 9,990 SF
- Price Per Square Foot: $531
- Address: 7055 North Blythe Avenue
- Market: Fresno
- Acres: 1.07
The transaction was facilitated by Faris Lee Investments, with Scott DeYoung, Jeff Conover, and Greg Lukosky representing the involved parties. The identities of the buyer and seller have not been disclosed.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$282,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,829.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,124.70
Annual Debt Service$301,496.45
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