Abe Kamara Acquires Retail Property On Melrose Ave. In West Hollywood For $8.5M
SOLD
$8,500,000
California
See Similar DealsRetail3,600 SF
Sold 07/15/2020
SOLD
Abe Kamara Acquires Retail Property On Melrose Ave. In West Hollywood For $8.5M
8747 Melrose Avenue, West Hollywood, CA 90069
See Similar DealsRetail3,600 SF
Sold 07/15/2020
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$2,361
Total Square Footage:3,600 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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