Century 21 Discovery Acquires Retail Property In Fontana For $7.6M
SOLD
$7,600,000
California
See Similar DealsRetail16,273 SF
Sold
SOLD
Century 21 Discovery Acquires Retail Property In Fontana For $7.6M
7470 Cherry Avenue, Fontana, CA, USA
See Similar DealsRetail16,273 SF
Sold
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$467
Total Square Footage:16,273 SF
Transaction Type:Sale
The retail property located at 7470 Cherry Avenue in Fontana has been sold. The sale took place on July 9, 2021, with a sale price of $7,600,000. The property spans a total of 16,273 square feet, resulting in a price per square foot of $467.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,600,000
- Address: 7470 Cherry Avenue
- Market: Fontana
- Buyer's Representative: Jigar Shah - Century 21 Discovery
- Seller's Representatives: John Redfield & Chris Tramontano (National Net Lease Group) - SRS Real Estate Partners
Jigar Shah from Century 21 Discovery represented the buyer in this transaction. On the seller's side, the representation was provided by John Redfield and Chris Tramontano from the National Net Lease Group at SRS Real Estate Partners.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$405,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,001.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,027.88
Annual Debt Service$432,334.53
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