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Joie Manda Acquires Santa Monica Office Building For $11.55M

Property Image
SOLD
$11,550,000
Marty Barkan
David (Dave) Wilson
Brad McCoy
+ 1

California

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Office10,916 SF
Sold 11/17/2021
the dealplayerscompscontact
Property Image
SOLD

Joie Manda Acquires Santa Monica Office Building For $11.55M

1809 Olympic Boulevard, Santa Monica, CA, USA

See Similar Deals
Office10,916 SF
Sold 11/17/2021
Marty Barkan
David (Dave) Wilson
Brad McCoy
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$1,058
Total Square Footage:10,916 SF
Transaction Type:Sale

The office property located at 1809 Olympic Boulevard in Santa Monica has been sold in a transaction that took place on November 17, 2021. The property spans 10,916 square feet and was sold for a total of $11,550,000, resulting in a price per square foot of $1,058.

Summary of transaction details

  • Property Type: Office
  • Address: 1809 Olympic Boulevard, Santa Monica
  • Market: Santa Monica
  • Sale Price: $11,550,000
  • Square Footage: 10,916
  • Price per Square Foot: $1,058

Joie Manda has acquired the property, while Michael Marquart was the seller. Brad McCoy and David Wilson from Lee & Associates represented the buyer in the transaction, while Marty Barkan from CBRE represented the seller.

Players

Brad McCoy
Lee & Associates
Brad McCoy
44 deals$631.9M volume
BROKER
David (Dave) Wilson
Lee & Associates
David Wilson
34 deals$562M volume
BROKER
Marty Barkan
CBRE
Marty Barkan
2 deals$11.6M volume
BROKER
JM
Joie Manda
2 deals$14.4M volume
BUYER

Details

SOLD
IMAGE: Brad McCoy & David Wilson DATE: 11/17/2021 ADDRESS: 1809 Olympic Boulevard MARKET: Santa Monica ASSET TYPE: Office BUYER: Joie Manda SELLER: Michael Marquart BUYER’S REP: Brad McCoy (@BradfordMcCoy) & David Wilson (@CreativeOffice365) - Lee & Associates SELLER’S REP: Marty Barkan - CBRE SALE PRICE: $11,550,000 SF: 10,916 ~ PPSF: $1,058

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$616,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$41,034.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,752.89
Annual Debt Service$657,034.71