WA Thompson Distrubuting Co. Of Mojave Acquires Retail Condo In Apple Valley For $7.15M

WA Thompson Distributing Co. of Mojave has purchased a retail condo in Apple Valley, located at 21650 CA-18. The property was sold for $7,150,000 on an all cash basis. With a total square footage of 14,739, the price per square foot comes out to be $485. The transaction has resulted in a net operating income (NOI) of $425,000. The property has a cap rate of 5.94% and a lease term of 13.8 years.

Summary of transaction details

• Property Type: Retail Condo
• Transaction Amount: $7,150,000
• Address: 21650 CA-18, Apple Valley
• Market: Apple Valley
• Buyer: WA Thompson Distributing Co. of Mojave
• Brokers: Orbell Ovaness, Ara Rostamian – Marcus & Millichap @Ovaness_Rostamian
• Square Footage: 14,739
• Price per Square Foot: $485
• Net Operating Income (NOI): $425,000

The transaction was facilitated by brokers Orbell Ovaness and Ara Rostamian from Marcus & Millichap. They represented the parties involved in the deal, ensuring a successful transaction. The sale was completed on an all-cash basis, allowing for a smooth and efficient transfer of ownership.