Sale Of Riverside Property At 1595 Spruce St For $6 Million With CBRE As Seller's Representatives
SOLD
California
See Similar DealsOffice67,076 SF
Sold
SOLD
Sale Of Riverside Property At 1595 Spruce St For $6 Million With CBRE As Seller's Representatives
1595 Spruce St, Riverside, CA, 92507
See Similar DealsOffice67,076 SF
Sold
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$89
Total Square Footage:67,076 SF
Transaction Type:Sale
An office building located at 1595 Spruce St, Riverside, CA, was sold for $6 million. The property spans 67,076 square feet and is situated in the Riverside market.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: $6,000,000.00
- Address: 1595 Spruce St, Riverside, CA, 92507
- Market: Riverside
- Seller's Representatives: Doug Mack, Gary Stache (CBRE)
- Buyer: Unknown
Northstar Commercial Partners completed this transaction, having originally acquired the property in 2015 as part of a larger portfolio. The representatives from CBRE involved in the deal included Gary Stache, Doug Mack, Vindar Batoosingh, and Phil Woodford.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$319,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73
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