250 Cambridge Office Building In Palo Alto Sold For $39.3M By Tarlton Properties And Acquired By 250 Cambridge LP
SOLD
$39,300,000
+ 3
California
See Similar DealsOffice34,558 SF
Sold 05/27/2022
SOLD
250 Cambridge Office Building In Palo Alto Sold For $39.3M By Tarlton Properties And Acquired By 250 Cambridge LP
250 Cambridge Avenue, Palo Alto, California 94306, United States
See Similar DealsOffice34,558 SF
Sold 05/27/2022
+ 3
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$1,137
Total Square Footage:34,558 SF
Transaction Type:Sale
250 Cambridge, located in Palo Alto, was recently sold in a transaction that took place on May 27, 2022. The property is an office building with a total area of 34,558 square feet. The sale price for this transaction was $39,300,000, resulting in a price per square foot of $1,137.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $39,300,000
- Address: 250 Cambridge, Palo Alto
- Market: Palo Alto
- Buyer: 250 Cambridge LP
- Seller: Tarlton Properties
- Brokers: Steven Golubchik, Seth McKinnon, Jonathan Schaefler, Darren Hollak, Ramsey Daya & Chris Moritz - Newmark
The sale of 250 Cambridge was facilitated by a team of brokers from Newmark, including Steven Golubchik, Seth McKinnon, Jonathan Schaefler, Darren Hollak, Ramsey Daya, and Chris Moritz. These individuals played a crucial role in representing the buyer and the seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,095,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$139,624.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$186,302.05
Annual Debt Service$2,235,624.60
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