Updated Dec 4, 2024
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
About this deal
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
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