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Stephen Mohme Acquires Office Asset In Manhattan Beach For $11.08M With Ryan Sharpe As Buyer's Rep

Property Image
SOLD
$11,075,000
Eric Lastition
Ryan Sharpe
+ 1

California

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Office19,671 SF
Sold 01/30/2025
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Property Image
SOLD

Stephen Mohme Acquires Office Asset In Manhattan Beach For $11.08M With Ryan Sharpe As Buyer's Rep

2501 North Sepulveda Boulevard

See Similar Deals
Office19,671 SF
Sold 01/30/2025
Eric Lastition
Ryan Sharpe
+ 1
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$563
Total Square Footage:19,671 SF
Transaction Type:Sale

The asset involved in this transaction is an office property located at 2501 North Sepulveda Boulevard in the Manhattan Beach market. The property sold for $11,075,000, encompassing a total square footage of 19,671 and having a price per square foot of $563.

Summary of transaction details:

The key individuals in this transaction include Buyer Stephen Mohme and Seller Jim Van Zanten. The deal was facilitated by Ryan Sharpe from Kidder Mathews representing the buyer, while the seller was represented by Geoff Ludwig and Eric Lastition from Newmark, alongside Jim Van Zanten from Vista Sotheby’s International Realty, indicating a collaborative effort among multiple representatives in this transaction.

Players

Ryan Sharpe
20 deals$82.5M volume
BROKER

Geoff Ludwig
Newmark
6 deals$163.9M volume
BROKER

Eric Lastition
Newmark
5 deals$136.6M volume
BROKER

Jim Van Zanten
Sotheby's International Realty
1 deal$11.1M volume(310) 546-7611
BROKER

Sotheby's International Realty
BROKERAGE

Details

SOLD
IMAGE: Ryan Sharpe, Geoff Ludwig, Eric Lastition & Jim Van Zanten DATE: 01/30/2025 ADDRESS: 2501 North Sepulveda Boulevard MARKET: Manhattan Beach ASSET TYPE: Office BUYER: Stephen Mohme SELLER: Jim Van Zanten BUYER'S REP: Ryan Sharpe (@Sharpeteam) - Kidder Mathews (@Kidder.Mathews) SELLER'S REP: Geoff Ludwig (@GeoffpLudwig) & Eric Lastition (@Lassieman1) - Newmark (@Newmark); Jim Van Zanten (@TheVZGroup) - Vista Sotheby’s International Realty (@Vista_sir) SALE PRICE: $11,075,000 SF: 19,671 ~ PPSF: $563

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$590,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,347.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,501.15
Annual Debt Service$630,013.80