Dr. Rene Salhab Acquires Retail Property On Magnolia Avenue In Riverside For $1.7M
SOLD
$1,717,100
California
See Similar DealsRetail6,387 SF
Sold 01/27/2023
SOLD
Dr. Rene Salhab Acquires Retail Property On Magnolia Avenue In Riverside For $1.7M
9204 Magnolia Avenue
See Similar DealsRetail6,387 SF
Sold 01/27/2023
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$268
Total Square Footage:6,387 SF
Transaction Type:Sale
The retail property located at 9204 Magnolia Avenue in Riverside has been sold in a recent transaction. The property spans 6,387 square feet and was sold for a price of $1,717,100, making the price per square foot $269.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,717,100
- Square Footage: 6,387
- Address: 9204 Magnolia Avenue, Riverside
Dr. Rene Salhab was the buyer in this transaction, while Bank of America acted as the seller. Sam Kangavari from NAI Capital represented the buyer as their agent, and Phil Lyons, Chad Iafrate, and Nash Johnson, affiliated with Cushman & Wakefield, represented the seller in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$91,578.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,100.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,139.93
Annual Debt Service$97,679.16
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