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Lee & Associates Brokers Finalize $4M Sale Of Royale Oak Office Park In Covina, California

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SOLD
$4,000,000

California

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Office19,300 SF
Sold
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SOLD

Lee & Associates Brokers Finalize $4M Sale Of Royale Oak Office Park In Covina, California

1272-1274 Center Ct Dr Covina, CA 91724, USA

See Similar Deals
Office19,300 SF
Sold
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$207
Total Square Footage:19,300 SF
Transaction Type:Sale

The $4 million sale of Royale Oak Office Park, a three-building property in Covina, California, has been finalized by Lee & Associates. The property, located at 1272-1274 Center Court Drive, spans a total of 25,991 sq ft, with 8,998 sq ft being leased by an anchor tenant. The buyers have plans to upgrade the property and secure tenants for lease renewals. Situated in close proximity to the San Bernardino (10) Freeway, the property also offers easy access to various amenities such as a restaurant, hotel, and shops.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $4,000,000
  • Market: Covina
  • Address: 1272-1274 Center Court Drive
  • Square Footage: 25,991 sq ft
  • Brokers: Jamie Harrison & Christopher Larimore - Lee & Associates
  • Anchor Tenant: Leased 8,998 sq ft

Lee & Associates played a key role in facilitating the sale of Royale Oak Office Park. With their expertise, the buyers were able to secure the property and plan for future upgrades and lease renewals. The property's convenient location near the San Bernardino (10) Freeway and various amenities adds to its appeal.

Players

Jamie Harrison
5 deals$18.5M volume
BROKER

Christopher Larimore
Lee & Associates
3 deals$19.7M volume(626) 240-2788
BROKER

Details

SOLD
IMAGE: Jamie Harrison & Christopher Larimore DATE: 06/21/2023 ADDRESS: 1272-1274 Center Court Drive MARKET: Covina ASSET TYPE: Office BROKERS: Jamie Harrison & Christopher Larimore (@ChristopherLarimore) - Lee & Associates (@LeeAssociatesPasadena) SALE PRICE: $4,000,000 SF: 19,300 ~ PPSF: $207 NOTE: Lee & Associates has finalized the $4 million sale of Royale Oak Office Park, a three-building property in Covina, California. The property spans 25,991 sq ft of space, of which 8,998 sq ft is being leased by an anchor tenant. The buyers intend to upgrade the property while also securing tenants to renew leases. The property is situated in close proximity to the San Bernardino (10) Freeway and other amenities, including a restaurant, hotel and shops.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$213,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49