Joie Manda Acquires Santa Monica Office Building For $11.55M
1809 Olympic Boulevard, Santa Monica, CA, USA
$11,550,000
$1,058/SF
Building Size
10,916 SF
Asset Type
Office
Closing
Nov 17, 2021
AI
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
Santa Monica 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
1.37%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93