Cushman & Wakefield Represents Seller In $16.1M Office Sale At 612 South Broadway
SOLD
California
See Similar DealsOffice80,000 SF
Sold 07/16/2024
SOLD
Cushman & Wakefield Represents Seller In $16.1M Office Sale At 612 South Broadway
612 South Broadway
See Similar DealsOffice80,000 SF
Sold 07/16/2024
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$201
Total Square Footage:80,000 SF
Transaction Type:Sale
The property involved in this transaction is an office asset located at 612 South Broadway in Downtown Los Angeles. The sale price was $16,100,000, and the asset encompasses 80,000 square feet, translating to a price per square foot of $201.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $16,100,000
- Address: 612 South Broadway
- Market: Downtown Los Angeles
- Square Footage: 80,000
- Price Per Square Foot: $201
- Seller's Representatives: Mike Condon Jr., Erica Finck, Reid Gratsch, Brittany Winn & Kylie Rawn - Cushman & Wakefield
The transaction was facilitated by a team of representatives from Cushman & Wakefield, highlighting the collaborative efforts of Mike Condon Jr., Erica Finck, Reid Gratsch, Brittany Winn, and Kylie Rawn in bringing the sale to fruition.
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$858,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,199.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$76,322.21
Annual Debt Service$915,866.57
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