Mark Millet Acquires Office Property In Palo Alto, CA For $7.4M
SOLD
$7,379,500
California
See Similar DealsOffice7,516 SF
Sold 02/24/2022
SOLD
Mark Millet Acquires Office Property In Palo Alto, CA For $7.4M
711 Colorado Avenue, Palo Alto, California 94303, United States
See Similar DealsOffice7,516 SF
Sold 02/24/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$981
Total Square Footage:7,516 SF
Transaction Type:Sale
Located at 711 Colorado Ave in Palo Alto, CA, this office property was recently sold in a closed transaction. The property spans 7,516 square feet and was sold for a total price of $7,379,500, resulting in a price per square foot of $981. The transaction took place on February 24, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $7,379,500
- Square Footage: 7,516
- Price per Square Foot: $981
- Address: 711 Colorado Ave, Palo Alto, CA
In this transaction, Mark Millet acted as the buyer, while Eric Kutsenda represented the seller. They were the key individuals involved in the deal.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$393,573.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,217.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,982.59
Annual Debt Service$419,791.14
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