Ethan Conrad Properties Acquires Retail Property In Citrus Heights For $16.7M
SOLD
$16,700,000
+ 1
California
See Similar DealsRetail135,000 SF
Sold 01/06/2022
SOLD
Ethan Conrad Properties Acquires Retail Property In Citrus Heights For $16.7M
7867 Lichen Drive, Citrus Heights, California 95621, United States
See Similar DealsRetail135,000 SF
Sold 01/06/2022
+ 1
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$123
Total Square Footage:135,000 SF
Transaction Type:Sale
Located at 7867 Lichen Dr. in Citrus Heights, this retail property has been recently sold. The property spans 135,000 square feet and was sold for a total of $16,700,000, resulting in a price per square foot of $155.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $16,700,000
- Market: Citrus Heights
- Buyer: Ethan Conrad Properties
- Seller: Citivest Commercial Investments
- Brokers: Bill Rose, Edward Nelson, and Wyatt Figeroa from Marcus & Millichap
The deal was facilitated by the brokers Bill Rose, Edward Nelson, and Wyatt Figeroa from Marcus & Millichap. They represented both the buyer, Ethan Conrad Properties, and the seller, Citivest Commercial Investments.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$890,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$59,331.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$79,166.52
Annual Debt Service$949,998.24
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