Updated May 30, 2025
Local Family Office Acquires 15,200 SF Office Building In Newport Beach For $11.5M
1303 Avocado Avenue
$11,500,000
$756/SF
Building Size
15,200 SF
Asset Type
Office
Closing
May 23, 2025
About this deal
AI
A local family office acquired the office building located at 1303 Avocado Avenue in Newport Beach for a price of $11.5 million. The property spans 15,200 square feet and has a price per square foot of $757.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $11,500,000
- Square Footage: 15,200
- Price Per Square Foot: $757
- Address: 1303 Avocado Avenue
- Market: Newport Beach
- Seller: A local private partnership
- Brokers: Anthony DeLorenzo, Bryan Johnson, Harry Su & Sammy Cemo - CBRE
CBRE's team comprising Anthony DeLorenzo, Sammy Cemo, Bryan Johnson, and Harry Su represented the seller in this transaction, facilitating the sale with their expertise in the Newport Beach market.
On the Map
$11,500,000
$756/SF
Office
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Players
Newport Beach Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93