Presidio Bay Ventures Acquires 4.7 Acres Industrial Property In San Carlos For $34M
SOLD
$34,000,000
California
See Similar DealsIndustrial83,500 SF
Sold 07/18/2022
SOLD
Presidio Bay Ventures Acquires 4.7 Acres Industrial Property In San Carlos For $34M
642 Quarry Road, San Carlos, California 94070, United States
See Similar DealsIndustrial83,500 SF
Sold 07/18/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$407
Total Square Footage:83,500 SF
Transaction Type:Sale
Presidio Bay Ventures has acquired an industrial property in San Carlos. The property, located at 642 Quarry Road, spans an impressive 4.7 acres and boasts a total square footage of 83,500. The transaction, which took place on July 18, 2022, was facilitated by Cushman & Wakefield representatives Ben Paul & Gary Boitano.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $34,000,000
- Market: San Carlos
- Address: 642 Quarry Road
This successful deal highlights the significant investment made by Presidio Bay Ventures in expanding its portfolio. With a purchase price of $34,000,000, the industrial property offers ample opportunities for development and growth. The involvement of Cushman & Wakefield's representatives, Ben Paul & Gary Boitano, demonstrates the importance of experienced brokers in facilitating such transactions.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,813,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$120,794.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$161,177.35
Annual Debt Service$1,934,128.15
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