Wave Enterprises Acquires Malibu Office Building On Stuart Ranch Road For $17.5M
23815 Stuart Ranch Rd, Malibu, CA 90265, USA
$17,500,000
$441/SF
Building Size
39,615 SF
Asset Type
Office
Closing
Apr 23, 2020
AI
The office property located at 23805 and 23815 Stuart Ranch Road in Malibu, California has been sold off-market for a price of $17,500,000. The property spans a total area of 39,615 square feet, resulting in a price per square foot of $441.75. The transaction took place on April 24, 2020.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $17,500,000
- Address: 23805, 23815 Stuart Ranch Road, Malibu
- Market: Malibu
- Square Footage: 39,615
- Price Per Square Foot: $441.75
The buyer of the property is Wave Enterprises, INC., while the seller is Miramar Investment Co. The transaction was facilitated by brokers A.J. Dorn and Tony Dorn.
Please note that additional information regarding the property or the transaction is not available.
Players
Malibu 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
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93