Burbank Retail Property Sells For $1.55M By Buyer Zaven Arakelian - Compass Commercial
SOLD
$1,550,000
California
See Similar DealsRetail2,541 SF
Sold 04/23/2019
SOLD
Burbank Retail Property Sells For $1.55M By Buyer Zaven Arakelian - Compass Commercial
2223 West Burbank Boulevard, Burbank, CA 91506, USA
See Similar DealsRetail2,541 SF
Sold 04/23/2019
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$610
Total Square Footage:2,541 SF
Transaction Type:Sale
The retail property located at 2223 Burbank Blvd in Burbank has been sold for $1,550,000. The transaction took place on April 23, 2019. The property is 2,541 square feet in size, resulting in a price per square foot of $609.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,550,000
- Square Feet: 2,541
- Price per Square Foot: $609
- Address: 2223 Burbank Blvd, Burbank
The seller of the property was Ron Baldi, while the buyer was Zaven Arakelian. Elizabeth Clark and Sayeh Foroutan of Compass Commercial represented both parties as brokers in this transaction.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$82,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,506.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,347.79
Annual Debt Service$88,173.49
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