Kyle Ransford Acquires Retail Property In Hermosa Beach For $5M
SOLD
California
See Similar DealsRetail8,300 SF
Sold 09/12/2022
SOLD
Kyle Ransford Acquires Retail Property In Hermosa Beach For $5M
901 Hermosa Avenue
See Similar DealsRetail8,300 SF
Sold 09/12/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$602
Total Square Footage:8,300 SF
Transaction Type:Sale
The retail property located at 901 Hermosa Avenue in Hermosa Beach, CA has been sold for a price of $5,000,000. The property spans an area of 8,300 square feet, resulting in a price per square foot of $602. The transaction took place on 09/12/2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,000,000
- Address: 901 Hermosa Avenue, Hermosa Beach, CA
- Market: Hermosa Beach, CA
- Size: 8,300 square feet
- Price per Square Foot: $602
The buyer of the property is Kyle Ransford, while the seller is Melvin G. Dahle. The transaction was facilitated by the Simon Mattox, Austin Wolitarsky, Dan Riley, Bill Durslag, and Kyle Woods from Socal Retail Advisory at CBRE Capital Markets.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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