Alvarez & Marsal Capital Real Estate Acquires Office Property In San Jose For $24.5M
SOLD
$24,500,000
California
See Similar DealsOffice86,100 SF
Sold 09/28/2022
SOLD
Alvarez & Marsal Capital Real Estate Acquires Office Property In San Jose For $24.5M
3553 North 1st Street, San Jose, California 95134, United States
See Similar DealsOffice86,100 SF
Sold 09/28/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$284
Total Square Footage:86,100 SF
Transaction Type:Sale
The office property located at 3553 N 1st Street in San Jose has been sold. The transaction took place on September 28, 2022.
Summary of transation details
- Property Type: Office
- Transaction Amount: $24,500,000
- Address: 3553 N 1st Street, San Jose
- Market: San Jose
- Acres: 6
- Buyer: Alvarez & Marsal Capital Real Estate
- Seller: Santa Clara Country Housing Authority
The buyer in this transaction is Alvarez & Marsal Capital Real Estate, and they were represented by their broker. The seller, on the other hand, is the Santa Clara Country Housing Authority. The property has a total square footage of 86,100, resulting in a price per square foot of $285.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,306,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$87,043.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$116,142.50
Annual Debt Service$1,393,709.99
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