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400 North Mountain Avenue

Harbor Associates Sells Medical Office Property In Upland For $8.8M With CBRE As Representative
SOLDMedical Office

Harbor Associates Sells Medical Office Property In Upland For $8.8M With CBRE As Representative

400 North Mountain Avenue

$8,800,000

$183/SF

Building Size

47,850 SF

Asset Type

Medical Office

Closing

Oct 13, 2023

AI

A three-story, 47,850-square-foot medical office property located at 400 Mountain Avenue in Upland, Inland Empire, has been sold by Harbor Associates for $8.8 million. The property was purchased by a local medical user. CBRE Investment Properties served as the seller's representative in this transaction.

Summary of transaction details

  • Property Type: Medical Office
  • Transaction Amount: $8,800,000
  • Address: 400 Mountain Avenue, Upland
  • Market: Inland Empire
  • Square Footage: 47,850
  • Price per Square Foot: $184

Harbor Associates, represented by Joon Choi, acted as the seller in this sale. The team of brokers involved in the transaction included Sammy Cemo, Anthony DeLorenzo, Austin Reuland, Bryan Johnson, and Nick Williams, all from CBRE.

Players

Bryan Johnson

CBRE

Broker

$763.9M

vol

49 deals

Broker
Harbor Associates
Harbor AssociatesSeller

Upland 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

1.80%

Cash-on-Cash

-0.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93