Updated Oct 29, 2024
Advanced Medical Properties Sells Office Asset In Newport Beach For $41M
330 Old Newport Blvd, Newport Beach, CA, USA
$41,000,000
$1,367/SF
Building Size
29,991 SF
Asset Type
Office
Closing
Apr 6, 2021
About this deal
AI
The office building located at 330 Old Newport Blvd in Newport Beach has been sold for a price of $41,000,000. The property spans across 29,991 square feet, resulting in a price per square foot of $1,367. The transaction took place on April 7, 2021.
Summary of transaction details
- Property Type: Office
- Sale Price: $41,000,000
- Square Footage: 29,991
- Price per Square Foot: $1,367
- Address: 330 Old Newport Blvd
- Market: Newport Beach
The seller of the property was Advanced Medical Properties. The deal was facilitated by a team of brokers including Garth Hogan, Sean Fulp, Mark Schuessler, Ryan Plummer, John Scruggs, and Kevin Shannon from Data to Deals.
Players
Newport Beach 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
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93