Clarkson Law Acquires Office On Pacific Coast Highway In Malibu For $8M
SOLD
California
See Similar DealsOffice5,108 SF
Sold 06/11/2021
SOLD
Clarkson Law Acquires Office On Pacific Coast Highway In Malibu For $8M
22525 Pacific Coast Highway, Malibu, CA, USA
See Similar DealsOffice5,108 SF
Sold 06/11/2021
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$1,566
Total Square Footage:5,108 SF
Transaction Type:Sale
An office property located at 22525-22535 Pacific Coast Highway in Malibu has been sold for $8,000,000. The property spans 5,108 square feet, resulting in a price per square foot of $1,566.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $8,000,000
- Address: 22525-22535 Pacific Coast Highway, Malibu
- Market: Malibu
The buyer, Clarkson Law Firm, represented by Jake Zacuto, Andrew Sinasohn, and Doug Fillmore, acquired the property. The seller was represented by Travis Landrum and Andrew Jennison. Ray Rowshankhah from City National Bank acted as the loan broker in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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