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1650 Adams Avenue, Costa Me...

Dr. Daniel Barrett Acquires Office Building In Costa Mesa For $4.65M
SOLDOffice

Dr. Daniel Barrett Acquires Office Building In Costa Mesa For $4.65M

1650 Adams Avenue, Costa Mesa, CA, USA

$4,650,000

$373/SF

Building Size

12,436 SF

Asset Type

Office

Closing

Dec 27, 2020

AI

An office property in Costa Mesa located at 1650 Adams Avenue was recently sold in a transaction on 12/28/2020. The property, measuring 12,436 square feet, was sold for a price of $4,650,000, resulting in a price per square foot of $373. The sale was facilitated by Lucia Holdings, who represented the seller, and the buyer was Dr. Daniel Barrett. The buyer was represented by Jake Zacuto, Andrew Sinasohn, and Doug Fillmore from Zacuto Group. The seller's representatives were Joe Winkelmann and Tony Lochhead.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $4,650,000
  • Address: 1650 Adams Avenue, Costa Mesa
  • Market: Costa Mesa

Dr. Daniel Barrett was the buyer of the property, while Lucia Holdings acted as the seller. The buyer was represented by Jake Zacuto, Andrew Sinasohn, and Doug Fillmore, who are associated with Zacuto Group. The seller's representatives were Joe Winkelmann and Tony Lochhead. The transaction closed on 12/28/2020, with the office property being sold for a total of $4,650,000 at a price per square foot of $373.

Players

Jake Zacuto

Zacuto Group

Broker

$368.6M

vol

59 deals

Broker

Costa Mesa 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

3.41%

Cash-on-Cash

-0.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93