Updated Oct 28, 2024
North East Medical Services Acquires Retail Property In Little Saigon For $20M
939 Story Road, San Jose, California 95122, United States
$20,000,000
$445/SF
Building Size
44,900 SF
Asset Type
Retail
Closing
Jun 23, 2022
About this deal
AI
The retail property located at 939 Story Rd. in Little Saigon has been sold in a recent transaction. The property spans 44,900 square feet and is situated in the vibrant market of Little Saigon. The sale was facilitated by Dr. Eddie Chan representing North East Medical Services as the buyer and American Pacific International Capital as the seller. The transaction closed on 06/24/2022 for a total sale price of $20,000,000, resulting in a price per square foot of $445.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $20,000,000
- Address: 939 Story Rd.
- Market: Little Saigon
- Buyer: North East Medical Services - Dr. Eddie Chan
- Seller: American Pacific International Capital
- Square Footage: 44,900
- Price Per Square Foot: $445
Dr. Eddie Chan, representing North East Medical Services, played a key role in the transaction as the buyer. On the selling side, American Pacific International Capital facilitated the deal. The successful sale of this retail property demonstrates the activity and growth in the Little Saigon market.
Players
San Jose 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93