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CalCPA Sells Renovated Burlingame Office Building For $15.1M
SOLD
$15,100,000
+ 1
California
See Similar DealsOffice34,504 SF
Sold 08/18/2023
SOLD
CalCPA Sells Renovated Burlingame Office Building For $15.1M
1710 Gilbreth Rd Ste 100
See Similar DealsOffice34,504 SF
Sold 08/18/2023
+ 1
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$437
Total Square Footage:34,504 SF
Transaction Type:Sale
The California Society of Certified Public Accountants (CalCPA) has sold a renovated three-story office building located at 1710 Gilbreth Road in Burlingame. The office building was sold for $15.1 million to an undisclosed buyer. The property encompasses a total area of 34,504 square feet and has a price per square foot of $438.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $15,100,000
- SF: 34,504
- PPSF: $438
- Address: 1710 Gilbreth Road
- Market: Burlingame
The sale of the office building was facilitated by the San Francisco Capital Markets team at CBRE. The California Society of Certified Public Accountants (CalCPA) was represented by Kyle Kovac, Mike Taquino, Joe Moriarty, and Giancarlo Sangiacomo, who are brokers from CBRE. The buyer's identity remains undisclosed.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$805,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,647.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,581.70
Annual Debt Service$858,980.44
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