Updated Oct 29, 2024
Hanley Investment Group Real Estate Advisors Sells Retail Properties In Imperial For $5.8M
802 N Imperial Ave Imperial, CA 92251, USA
$5,800,000
$771/SF
Building Size
7,519 SF
Asset Type
Retail
Closing
Jul 5, 2023
About this deal
AI
Two single-tenant retail properties in Imperial have been sold for a total of $5.8 million. The buildings, located at 802 North Imperial Avenue and 820 North Imperial Avenue, are occupied by Starbucks Coffee Drive-Thru and the United States Postal Service. Private investors acquired each property for $2.9 million.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,800,000
- Square Footage: 7,519 SF
- Price per Square Foot: $771
- Address: 802 North Imperial Avenue & 820 North Imperial Avenue
- Market: Imperial
The sale was facilitated by Bill Asher and Jeff Lefko of Hanley Investment Group Real Estate Advisors. They represented the seller, 5th Street Development LLC, in the transaction.
Players
Los Angeles 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
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93