OWN LA Acquires Office Asset At 515 Marin Street Thousand Oaks From Nearon Enterprises For $9M
SOLD
$9,000,000
California
See Similar DealsOffice63,008 SF
Sold
SOLD
OWN LA Acquires Office Asset At 515 Marin Street Thousand Oaks From Nearon Enterprises For $9M
515 Marin Street
See Similar DealsOffice63,008 SF
Sold
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$142
Total Square Footage:63008 SF
Transaction Type:Sale
The property asset involved in this transaction is an office located at 515 Marin Street in Thousand Oaks. The sale was finalized for a total amount of $9,000,000, encompassing a total square footage of 63,008. The price per square foot for this transaction was recorded at $142.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,000,000
- Address: 515 Marin Street
- Market: Thousand Oaks
- Square Footage: 63,008
- Price Per Square Foot: $142
- Buyer: OWN LA
- Seller: Nearon Enterprises
- Brokers: Jared Smits & Mark Leonard - Lee & Associates
The deal was facilitated by brokers Jared Smits and Mark Leonard, representing the interests of the buyer and seller in this transaction. The involvement of Lee & Associates as the brokerage firm underscores their role in the negotiation process.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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