Hanley Investment Group Real Estate Advisors Acquires Moreno Valley Retail Property For $3.2M
SOLD
$3,200,000
Retail
Sold 02/27/2023
SOLD
Hanley Investment Group Real Estate Advisors Acquires Moreno Valley Retail Property For $3.2M
24855 Iris Avenue
See Similar DealsRetail
Sold 02/27/2023
Summary
IOWA
Asset Type:Retail
Transaction Type:Sale
The retail property located at 24855 Iris Avenue in Moreno Valley has been sold. The property, spanning 0.80 acres, was transacted on 02/27/2023. The sale price for this retail asset was $3,200,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,200,000
- Address: 24855 Iris Avenue
- Market: Moreno Valley
- ACRES: 0.80
The seller of the property was Inland Iris Partners, Inc., an affiliate of The Lynch Group Inc. The buyer was represented by Amy Kim from Hanbada Realty. On the other hand, the seller was represented by Bill Asher, Jeff Lefko, and Ed Hanley from Hanley Investment Group Real Estate Advisors, along with Jason Gordon from Epsteen & Associates.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59
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