Updated Dec 4, 2024
Marcus & Millichap Sells Fremont Medical Office Buildings For $3.7M
3055 Mowry Avenue & 38780 Paseo Padre Parkway
$3,700,000
$256/SF
Building Size
7,200 SF
Asset Type
Medical Office
Closing
Jul 1, 2024
About this deal
AI
The $3.7 million sale of two medical office buildings totaling 7,200 square feet in Fremont, CA has been facilitated by Marcus & Millichap. The properties located at 3055 Mowry Ave. and 38780 Paseo Padre Parkway are leased to Western Dental on a net-lease basis.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $3,700,000
- Address: 3055 Mowry Avenue & 38780 Paseo Padre Parkway
- Market: Fremont
- Square Footage: 7,200
- Price per Square Foot: $514
- Brokers: Eric Carrillo, J.J. Taughinbaugh & Yuri Sergunin (Yuri Sergunin) - Marcus & Millichap
Yuri Sergunin, J.J. Taughinbaugh, and Eric Carrillo from Marcus & Millichap’s Palo Alto office were the representatives for the seller in this transaction.
Players
Fremont Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93