The World School Acquires Office Building In Downtown San Jose For $33M
SOLD
$33,000,000
California
See Similar DealsOffice72,700 SF
Sold 04/11/2022
SOLD
The World School Acquires Office Building In Downtown San Jose For $33M
525 Race Street, San Jose, California 95126, United States
See Similar DealsOffice72,700 SF
Sold 04/11/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$453
Total Square Footage:72,700 SF
Transaction Type:Sale
The World School has purchased an office property located at 525 Race St. in Downtown San Jose. The transaction was facilitated by brokers Erik Hallgrimson, Walt Stephenson, and Brett Krouskup from Cushman & Wakefield. The sale took place on April 11, 2022.
Summary of transaction details
- Property Type: Office
- Sale Price: $33,000,000
- Square Footage: 72,700 SF
- Price per Square Foot: $453
- Address: 525 Race St.
- Market: Downtown San Jose
Walt Stephenson, Erik Hallgrimson, and Brett Krouskup represented The World School as brokers from Cushman & Wakefield in this transaction. They played a crucial role in facilitating the purchase of the office property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,759,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$117,242.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$156,436.84
Annual Debt Service$1,877,242.03
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