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690 Saratoga Avenue, San Jo...

General Mortgage Capital Corporation Acquires Office Building In San Jose For $5.2M
SOLDOffice

General Mortgage Capital Corporation Acquires Office Building In San Jose For $5.2M

690 Saratoga Avenue, San Jose, California 95129, United States

$5,200,000

$535/SF

Building Size

9,704 SF

Asset Type

Office

Closing

Mar 23, 2022

AI

A 9,704 square foot office building located at 690 Saratoga Ave in San Jose, CA has been sold for $5,200,000. The property was purchased by General Mortgage Capital Corporation from Kwangrog Kim. The sale price translates to a price per square foot of $535.

Summary of transaction details

  • Property Type: Office Building
  • Transaction Amount: $5,200,000
  • Square Footage: 9,704
  • Price per Square Foot: $535
  • Address: 690 Saratoga Ave, San Jose, CA
  • Buyer: General Mortgage Capital Corporation
  • Seller: Kwangrog Kim

This transaction represents the successful acquisition of the office building by General Mortgage Capital Corporation from Kwangrog Kim.

Players

San Jose Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.05%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93