Global Legal Resources Acquires Office Building In Encinitas For $5.1M
SOLD
$5,075,000
California
See Similar DealsOffice9,850 SF
Sold 03/22/2022
SOLD
Global Legal Resources Acquires Office Building In Encinitas For $5.1M
322 Encinitas Boulevard, Encinitas, California 92024, United States
See Similar DealsOffice9,850 SF
Sold 03/22/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$515
Total Square Footage:9,850 SF
Transaction Type:Sale
The recently closed transaction in Encinitas involved the sale of an office property located at 322 Encinitas Blvd. The property, spanning 9,850 square feet, was sold by White Spring Properties, represented by Peter Curry from Cushman & Wakefield. The buyer, Global Legal Resources, was represented by James Huber from QualityFirst Commercial. The transaction took place on March 22, 2022, with a sale price of $5,075,000, resulting in a price per square foot of $515.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $5,075,000
- Address: 322 Encinitas Blvd.
- Market: Encinitas
Emmett Cahill from QualityFirst Commercial played a vital role as the buyer's representative in this deal. Sima Mehlberg was the seller, representing White Spring Properties. The sale of the office property signifies a significant transaction in the Encinitas market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$270,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,030.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,058.09
Annual Debt Service$288,697.07
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