Updated Dec 4, 2024
Core Contracting Acquires Carlsbad Office Building For $4.42M
1530 Faraday Avenue
$4,420,000
$337/SF
Building Size
13,093 SF
Asset Type
Office
Closing
Oct 9, 2023
About this deal
AI
A 13,093-square-foot office building located at 1530 Faraday Avenue in Carlsbad has been sold for $4,420,000. The transaction was brokered by CBRE and saw the property acquired by Core Contracting. This sale reflects the strong demand for owner-user properties in San Diego, where the cost of ownership remains favorable compared to leasing due to high rental rates.
Summary of transaction details:
- Property Type: Office
- Sale Price: $4,420,000
- Square Footage: 13,093
- Price Per Square Foot: $338
- Address: 1530 Faraday Avenue
- Market: Carlsbad
CBRE represented the seller in this transaction, with a team consisting of Nick Williams, Blake Wilson, Roger Carlson, Matt Pourcho, Anthony DeLorenzo, and Matt Harris. Core Contracting acted as the buyer in this deal. The sale highlights the expertise of these brokers in facilitating successful transactions in the Carlsbad market.
On the Map
$4,420,000
$337/SF
Office
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Players
Carlsbad 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
3.59%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93