Lucas Revocable Trust Acquires Retail Property From Plata Property LLC For $4.4M
4180 Avenida De La Plata, Oceanside...
$4,400,000
$648/SF
Building Size
6,788 SF
Asset Type
Retail
Closing
Nov 22, 2023
About this deal
AI
The retail property at 4180 Avenida De La Plata, Oceanside, has been sold for $4.4 million. This asset spans 6,788 square feet and is currently occupied by Navy Federal Credit Union. Constructed in 1992, the property is situated within the Rancho Del Oro business park. The tenant has renewed its lease for an additional 10 years, extending the term through May 2028.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,400,000.00
- Address: 4180 Avenida De La Plata, Oceanside
- Market: Durango
- Seller: Unknown
- Buyer: Lucas Revocable Trust
- Seller's Representative: Ryan Barr, Ryan Bennett - Lee & Associates
- Buyer's Representative: HC&M Commercial Properties
The deal involved the Lucas Revocable Trust as the buyer of the property. Ryan Barr and Ryan Bennett of Lee & Associates represented the seller, while HC&M Commercial Properties acted on behalf of the buyer in this transaction.
On the Map
$4,400,000
$648/SF
Retail
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Players
Durango 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
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93