Updated Oct 28, 2024
SummerHill Homes Acquires Office In Palo Alto, CA For $27.5M
2850 West Bayshore Road, Palo Alto, California 94303, United States
$27,500,000
$848/SF
Building Size
32,400 SF
Asset Type
Office
Closing
Oct 24, 2022
About this deal
AI
The office property located at 2850 West Bayshore Road in Palo Alto, CA has been sold for a total price of $27,500,000. The transaction took place on October 25, 2022, and the property encompasses 2.4 acres.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $27,500,000
- Address: 2850 West Bayshore Road, Palo Alto, CA
- Market: Palo Alto, CA
- Asset Size: 2.4 acres
The buyer of the property is SummerHill Homes, represented by Robert Freed. Comerica Bank provided the loan for the transaction. The office space has a total size of 32,400 square feet, resulting in a price per square foot of $849.
On the Map
$27,500,000
$848/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93