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8747 Melrose Avenue, West H...

Abe Kamara Acquires Retail Property On Melrose Ave. In West Hollywood For $8.5M
SOLDRetail

Abe Kamara Acquires Retail Property On Melrose Ave. In West Hollywood For $8.5M

8747 Melrose Avenue, West Hollywood, CA 90069

$8,500,000

$2,361/SF

Building Size

3,600 SF

Asset Type

Retail

Closing

Jul 15, 2020

AI

Located in West Hollywood, the retail property at 8747 Melrose Ave. has been sold for a price of $8,500,000. This transaction took place on 07/15/2021. The property spans a total of 3,600 square feet, resulting in a price per square foot of $2,361. The sale was facilitated by Chris Chasin and Renee Avedon of Compass Commercial, who represented both the buyer, Abe Kamara, and the seller, Nancy Corzine.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $8,500,000
  • Address: 8747 Melrose Ave.
  • Market: West Hollywood
  • Buyer: Abe Kamara
  • Seller: Nancy Corzine

Chris Chasin and Renee Avedon from Compass Commercial played a crucial role as the brokers in this deal. They represented both the buyer and seller, ensuring a smooth transaction for all parties involved.

Players

Chris Chasin

Partners CRE

Broker

$82M

vol

12 deals

Broker

West Hollywood 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

1.87%

Cash-on-Cash

-0.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93