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30 South 1st Avenue

Foothill Cardiology Group Acquires Office In Arcadia For $5.2M
SOLDOffice

Foothill Cardiology Group Acquires Office In Arcadia For $5.2M

30 South 1st Avenue

$5,200,000

$407/SF

Building Size

12,777 SF

Asset Type

Office

Closing

Jul 19, 2022

AI

The office property located at 30 S. 1st Ave. in Arcadia has been sold. The transaction was facilitated by Foothill Cardiology Group as the buyer and Foothill Credit Union as the seller. The property was represented by Tina LaMonica and Rene Soto from NAI Capital Commercial on behalf of the buyer, and Corey Waite from Rubicon represented the seller. The sale price for the property was $5,200,000. The office space spans 12,777 square feet, resulting in a price per square foot of $406.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $5,200,000
  • Square Footage: 12,777
  • Price per Square Foot: $406

Tina LaMonica and Rene Soto from NAI Capital Commercial represented the buyer, Foothill Cardiology Group, in the transaction. Corey Waite from Rubicon acted as the seller's representative on behalf of Foothill Credit Union. This deal marks another successful transaction in the Arcadia market.

Players

Tina LaMonica

NAI Global

Broker

$29.1M

vol

11 deals

Broker

Council Bluffs 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

3.05%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93