Montana Avenue Capital Acquires Mixed-Use Property In Sunnyvale For $19.3M
SOLD
$19,300,000
California
See Similar DealsMixed-use53,600 SF
Sold 08/11/2021
SOLD
Montana Avenue Capital Acquires Mixed-Use Property In Sunnyvale For $19.3M
968-970 Stewart Drive, Sunnyvale, CA, USA
See Similar DealsMixed-use53,600 SF
Sold 08/11/2021
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$360
Total Square Footage:53,600 SF
Transaction Type:Sale
A mixed-use property located at 968-970 Stewart Drive in Sunnyvale has been sold for $19,300,000. The property spans a total of 53,600 square feet, resulting in a price per square foot of $360. The transaction took place on August 11, 2021.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $19,300,000
- Address: 968-970 Stewart Drive, Sunnyvale
- Square Footage: 53,600
- Price Per Square Foot: $360
The buyer of the property was Montana Avenue Capital Partners LLC. The sellers of the property were the Dellamanos Family and the Hesslers Family. The sale was facilitated by brokers Kalil Jenab and Steven Jenab from Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,029,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$68,568.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$91,491.85
Annual Debt Service$1,097,902.16
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