Paragon Management Company Sells Kearny Mesa Office For $9.2M With CBRE Brokers
SOLD
California
See Similar DealsOffice24,000 SF
Sold 08/08/2022
SOLD
Paragon Management Company Sells Kearny Mesa Office For $9.2M With CBRE Brokers
4747 Viewridge Avenue, San Diego, California 92123, United States
See Similar DealsOffice24,000 SF
Sold 08/08/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$383
Total Square Footage:24,000 SF
Transaction Type:Sale
Paragon Management Company has sold an office property located at 4747 Viewridge in Kearny Mesa. The property spans 24,000 square feet and was sold for a price of $9,200,000, resulting in a price per square foot of $383. The transaction took place on 08/08/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $9,200,000
- Address: 4747 Viewridge, Kearny Mesa
- Market: Kearny Mesa
The sale was facilitated by Matt Pourcho, Anthony DeLorenzo, Matt Harris, and Nick Bonner from CBRE, who served as the brokers representing the seller, Paragon Management Company.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$490,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,685.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,612.69
Annual Debt Service$523,352.32
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