El Camino Health Acquires Medical Office In San Jose For $19.5M
SOLD
$19,500,000
+ 3
California
See Similar Deals35,272 SF
Sold 09/15/2022
SOLD
El Camino Health Acquires Medical Office In San Jose For $19.5M
625 Lincoln Avenue, San Jose, California 95126, United States
See Similar Deals35,272 SF
Sold 09/15/2022
+ 3
Summary
CALIFORNIA
Price Per Square Foot:$552
Total Square Footage:35,272 SF
Transaction Type:Sale
The medical office located at 625 Lincoln Avenue in San Jose has been sold in a recent transaction. The property, spanning 35,272 square feet, was sold for a price of $19,500,000, resulting in a price per square foot of $553.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $19,500,000
- Address: 625 Lincoln Avenue
- Market: San Jose
- Buyer: El Camino Health
- Seller: The Sobrato Organization
- Brokers: Scott Prosser, Joe Moriarty, Jack DePuy, Mike Taquino, Kyle Kovac & Alec Haley - CBRE
The transaction was facilitated by the brokers Scott Prosser, Joe Moriarty, Jack DePuy, Mike Taquino, Kyle Kovac, and Alec Haley, all representing CBRE. This deal represents a significant exchange of ownership in the medical office market of San Jose.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,039,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38
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