Mark Millet Acquires Office Building On Pacific Coast Hwy In Hermosa Beach For $15.3M
2447 Pacific Coast Highway, Hermosa Beach, California 90254, United States
$15,294,000
$612/SF
Building Size
24,954 SF
Asset Type
Office
Closing
Mar 3, 2022
AI
An office property located at 2447 Pacific Coast Hwy in Hermosa Beach, CA has been sold in a closed transaction. The property spans a total area of 24,954 square feet and was sold for a price of $15,294,000. The price per square foot for this transaction is $612.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $15,294,000
- Address: 2447 Pacific Coast Hwy, Hermosa Beach, CA
- Market: Hermosa Beach, CA
- Square Footage: 24,954
The buyer involved in this transaction is Mark Millet, while the seller is Dan Higgins.
Players
Hermosa Beach 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
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93