SRS Real Estate Partners Facilitates $4.46M Sale Of Quick Quack Car Wash Property
850 N Main St Corona, CA 92880, USA
$4,460,000
$1,240/SF
Building Size
3,595 SF
Asset Type
Retail
Closing
May 12, 2023
AI
SRS Real Estate Partners' National Net Lease Group (NNLG) recently concluded the ground lease sale of a 3,595-square-foot retail property located at 850 North Main Street in Corona. The property was occupied by Quick Quack Car Wash and was sold for a price of $4,460,000, resulting in a price per square foot of $1,241.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,460,000
- Address: 850 North Main Street
- Market: Corona
- Acres: 1
In this transaction, the seller, a private developer from Southern California, was represented by Matthew Mousavi and Patrick Luther of National Net Lease Group (NNLG) at SRS Real Estate Partners. On the buyer's side, a Southern California-based private investor was represented by Kurt Yacko of DAUM Commercial.
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
3.56%
Cash-on-Cash
-1.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93