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JLL Represents Buyer In $6.8M Retail Sale In Banning, CA

Property Image
SOLD
$6,800,000
Melissa (Ley) Marshall
Ian Schroeder
David McNevin
+ 1

California

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Retail17,272 SF
Sold 08/08/2023
the dealplayerscompscontact
Property Image
SOLD

JLL Represents Buyer In $6.8M Retail Sale In Banning, CA

806 W Ramsey St Banning, CA 92220, USA

See Similar Deals
Retail17,272 SF
Sold 08/08/2023
Melissa (Ley) Marshall
Ian Schroeder
David McNevin
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$393
Total Square Footage:17,272 SF
Transaction Type:Sale

The retail property located at 806 Ramsey Street in Banning has been sold for a price of $6,800,000. Spanning across 17,272 square feet, the property boasts an average price per square foot of $394.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $6,800,000
  • SF: 17,272
  • PPSF: $394

The sale of this retail property was negotiated by Alexander Hanshaw, the seller. On the buyer's side, Tim Kuruzar from JLL acted as the representative. Representing the seller, David McNevin, Melissa Marshall, and Ian Schroeder from CBRE played a key role in finalizing the transaction.

Players

Tim Kuruzar
NorthMarq
Tim Kuruzar
13 deals$280.7M volume(424) 401-9203
BROKER
David McNevin
CBRE
David McNevin
4 deals$26.5M volume
BROKER
Melissa (Ley) Marshall
CBRE
Melissa Marshall
4 deals$26.5M volume
BROKER
Ian Schroeder
CBRE
Ian Schroeder
4 deals$26.5M volume
BROKER

Details

SOLD
IMAGE: David McNevin, Melissa Marshall, Ian Schroeder & Tim Kuruzar DATE: 08/08/2023 ADDRESS: 806 Ramsey Street MARKET: Banning ASSET TYPE: Retail SELLER: Alexander Hanshaw BUYER'S REP: Tim Kuruzar (@Timmy_Paddles) - JLL (@JLL) SELLER'S REP: David McNevin (@David_Mcnevin_), Melissa Marshall (@_Melissa_Marshall) & Ian Schroeder - CBRE (@CBRE) SALE PRICE: $6,800,000 SF: 17,272 ~ PPSF: $394

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$362,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,158.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,235.47
Annual Debt Service$386,825.63