Atlantic Pearl Investments Sells Office Property In Long Beach For $16M With Brokers Sean Fulp, Ryan Plummer, Mark Schuessler, Ryan Tetrault
SOLD
$16,000,000
+ 1
California
See Similar DealsOffice784,040 SF
Sold 07/29/2020
SOLD
Atlantic Pearl Investments Sells Office Property In Long Beach For $16M With Brokers Sean Fulp, Ryan Plummer, Mark Schuessler, Ryan Tetrault
1501 Hughes Way, Long Beach, CA 90810, USA
See Similar DealsOffice784,040 SF
Sold 07/29/2020
+ 1
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$20
Total Square Footage:784,040 SF
Transaction Type:Sale
The office property located at 1501 Hughes Way in Long Beach has been sold in a closed transaction. The property offers 78,404 square feet of space and was sold for a price of $16,000,000, resulting in a price per square foot of $204. The seller of the property was Atlantic Pearl Investments.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $16,000,000
Sean Fulp, Ryan Plummer, Mark Schuessler, and Ryan Tetrault from DataToDeals represented the seller, Atlantic Pearl Investments, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$853,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95
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