Private Investor Acquires Retail Property On De Soto Ave In Canoga Park

A 3,139 SF single-tenant, NNN-leased property located at 8232 De Soto Ave in Canoga Park was recently sold for $2.97M. The property, occupied by Wendy’s, was sold at a rate of $948/SF. The transaction took place on 06/14/2016.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $2,970,000.00
• Address: 8232 De Soto Ave, Canoga Park, CA
• Market: Canoga Park

The buyer, a private investor from Orange County, was represented by Kyle Gulock and Jason Cope of Charles Dunn. The seller, a private investor from LA, was represented by Sands Investment Group. The deal closed at a cap rate of 5.87%. The property was constructed 15 years ago.