A 18,000-square-foot signalized corner lot at 1203 N. Maclay Ave. in San Fernando has sold for $1.42 million. The commercial property is home to an automotive business.
CREI broker Karl Niehaus represented both seller Pinfiniti Investments and buyer Maclay Avenue Investments.
According to CREI spokesperson Matthew Gonzaga, the seller will be completing a 1031 exchange for a larger property. Meanwhile, the buyer will completely renovate the property and add a car wash and gasoline sales to the property.