Oberlin Realty Acquires Office Property In Sorrento Mesa, San Diego For $5.3M
SOLD
$5,300,000
California
See Similar DealsOffice21,278 SF
Sold 05/05/2020
SOLD
Oberlin Realty Acquires Office Property In Sorrento Mesa, San Diego For $5.3M
10179 Huennekens St, San Diego, CA 92121, USA
See Similar DealsOffice21,278 SF
Sold 05/05/2020
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$249
Total Square Footage:21,278 SF
Transaction Type:Sale
The office property located at 10179 Huennekens St in Sorrento Mesa, San Diego has been sold in a closed transaction. The property, comprising 21,278 square feet, was purchased by Oberlin Realty from Pangea Properties for a price of $5,300,000. The sale price translates to a price per square foot of $249.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $5,300,000
- Address: 10179 Huennekens St
- Market: Sorrento Mesa, San Diego
- Buyer: Oberlin Realty
- Seller: Pangea Properties
- Brokers: Brant Aberg & Ryan Downing - Cushman & Wakefield
- Square Footage: 21,278
- Price per Square Foot: $249
The transaction was facilitated by the brokers Brant Aberg and Ryan Downing from Cushman & Wakefield. Their representation was instrumental in bringing together the buyer, Oberlin Realty, and the seller, Pangea Properties, to complete the sale of this office property in Sorrento Mesa.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$282,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,829.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,124.70
Annual Debt Service$301,496.45
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