Updated Oct 28, 2024
Bardis & Miry Development Acquires Office Building In Sacramento For $9M
350 University Avenue, Sacramento, California 95825, United States
$9,000,000
$191/SF
Building Size
47,000 SF
Asset Type
Office
Closing
Sep 20, 2022
About this deal
AI
The property involved in this transaction is an office located at 350 University Avenue in Sacramento. The sale took place on September 21, 2022. The property has a size of 47,000 square feet and the sale price was $9,000,000, resulting in a price per square foot of $191. The buyer of the property is Bardis & Miry Development, while the seller is 350 University Partnership. The brokers involved in the deal are Kevin Partington and Ben Corfee from Cushman & Wakefield.
Summary of transation details
- Property Type: Office
- Transaction Amount: $9,000,000
- Address: 350 University Avenue, Sacramento
- Size: 47,000 square feet
- Price per Square Foot: $191
- Buyer: Bardis & Miry Development
- Seller: 350 University Partnership
- Brokers: Kevin Partington & Ben Corfee - Cushman & Wakefield
Kevin Partington and Ben Corfee, representing Cushman & Wakefield, were the brokers involved in this transaction. They played a key role in facilitating the sale of the office property at 350 University Avenue in Sacramento.
Players
Sacramento 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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93