Updated Oct 29, 2024
Cabrillo Credit Union Acquires Office Building In San Diego For $7.9M
3710 Ruffin Rd San Diego, CA 92123, USA
$7,900,000
$393/SF
Building Size
20,060 SF
Asset Type
Office
Closing
Jun 8, 2023
About this deal
AI
A San Diego-based Cabrillo Credit Union has acquired a 20,060-square-foot office building located at 3710 Ruffin Road in Kearny Mesa for $7.9 million. The property underwent renovations in 2019 and boasts several notable features such as solar panels, open ceilings, creative office space, private offices, conference rooms, and employee amenities on each floor.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $7,900,000
- Address: 3710 Ruffin Road
- Market: San Diego
The buyer, Cabrillo Credit Union, based in San Diego, acquired the property with the assistance of brokers Phil Linton and Nick Bonner from CBRE. The seller in this transaction was the Council of Community Clinics.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.01%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93