Updated Dec 4, 2024
Mohamad Barmaki Purchases Retail Asset In Twentynine Palms For $2.12M
71737 29 Palms Highway
$2,120,000
$141/SF
Building Size
15,000 SF
Asset Type
Retail
Closing
May 22, 2024
About this deal
AI
The property involved in the transaction is a Retail asset located at 71737 29 Palms Highway in Twentynine Palms, California. The sale price for this property was $2,120,000, with a total square footage of 15,000. The market value of this asset was $141 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,120,000
- Buyer: Mohamad Barmaki
- Seller: Timothy Selby
- Buyer's Rep: Karl Markarian & Abel Mehrabi - JohnHart Real Estate
- Asking Price: $2,270,000
- SF: 15,000
- Market: Twentynine Palms
The deal was facilitated with Mohamad Barmaki as the buyer and Timothy Selby as the seller. The buyer's representatives in this transaction were Karl Markarian and Abel Mehrabi from JohnHart Real Estate. This transaction included the sale of Dollar Tree with a Corporate Guarantee STNL, a significant milestone in the retail property market in TwentyNine Palms, California.
On the Map
$2,120,000
$141/SF
Retail
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Market 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
7.48%
Cash-on-Cash
-2.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93