Updated Oct 29, 2024
Palma Ventura Investment Acquires Ventura Office Building For $8.4M
1500 Palma Drive, Ventura, CA, USA
$8,400,000
$233/SF
Building Size
36,000 SF
Asset Type
Office
Closing
Jan 7, 2021
About this deal
AI
The office property located at 1500 Palma Drive in Ventura has been sold. The transaction took place on January 8, 2021, with a sale price of $8,400,000. The property spans a total of 36,000 square feet, resulting in a price per square foot of $233. The buyer in this transaction was Palma Ventura Investment, while the seller's representative was T.C. Macker and Jennifer Moscoso from WESTMAC Commercial Brokerage Company. Additionally, Lee Black from KW Commercial and Veronica Black also represented the seller.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $8,400,000
- Address: 1500 Palma Drive
- Market: Ventura
Alan Abrams from Elite Alliance Inc. acted as the buyer's representative in this deal. It is worth noting that there are no additional details available regarding the transaction.
On the Map
$8,400,000
$233/SF
Office
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Ventura 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
1.89%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93