Updated Dec 21, 2023
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
About this deal
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