Dr. Andrew Langroudi Acquires Office Building In Lancaster For $3.2M With Marcus & Millichap
SOLD
$3,175,000
California
See Similar DealsOffice21,972 SF
Sold 02/17/2022
SOLD
Dr. Andrew Langroudi Acquires Office Building In Lancaster For $3.2M With Marcus & Millichap
1672 West Avenue J, Lancaster, California 93534, United States
See Similar DealsOffice21,972 SF
Sold 02/17/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$144
Total Square Footage:21,972 SF
Transaction Type:Sale
An office property located at 1672 W. Ave. J in Lancaster was recently sold for a price of $3,175,000. The property spans a total area of 21,972 square feet and was sold at a rate of $144 per square foot. The sale took place on 02/17/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $3,175,000
- Date: 02/17/2022
- Address: 1672 W. Ave. J, Lancaster
- Market: Lancaster
The buyer of the property was Dr. Andrew Langroudi, while the seller was Mr. Walter Asher. The transaction was facilitated by brokers Martin Agnew, Ryan Serling, and Stuart Fagan, who represented both the buyer and seller. The brokers were associated with Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$169,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,280.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,051.12
Annual Debt Service$180,613.44
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