Voit Real Estate Services Acquires Retail Property In Palm Desert For $4.6M
SOLD
$4,600,000
+ 2
California
See Similar DealsRetail2,700 SF
Sold 03/17/2022
SOLD
Voit Real Estate Services Acquires Retail Property In Palm Desert For $4.6M
73320 Dinah Shore Drive, Palm Desert, California 92211, United States
See Similar DealsRetail2,700 SF
Sold 03/17/2022
+ 2
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,703
Total Square Footage:2,700 SF
Transaction Type:Sale
The retail property located at 73320 Dinah Shore Drive in Palm Desert has been sold for a price of $4,600,000. The property spans across 2,700 square feet, resulting in a price per square foot of $1,703. The transaction took place on March 17, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,600,000
- Address: 73320 Dinah Shore Drive
- Market: Palm Desert
The buyer's representative for this transaction was John Costa, David Fults, and Brian McLoughlin from Voit Real Estate Services. On the other hand, Bill Asher and Jeff Lefko from Hanley Investment Group Real Estate Advisors represented the seller, Fountainhead Development.
Unfortunately, no additional information is available regarding the specific nature of the deal or any relevant background about the parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$245,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,342.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,806.35
Annual Debt Service$261,676.16
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