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Mark Millet Acquires Office Property In Palo Alto, CA For $7.4M

Property Image
SOLD
$7,379,500

California

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Office7,516 SF
Sold 02/24/2022
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Property Image
SOLD

Mark Millet Acquires Office Property In Palo Alto, CA For $7.4M

711 Colorado Avenue, Palo Alto, California 94303, United States

See Similar Deals
Office7,516 SF
Sold 02/24/2022
Contact now

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

3 deals$22.7M volume
BUYER

Details

SOLD
IMAGE: 02/24/2022 ADDRESS: 711 Colorado Ave MARKET: Palo Alto, CA ASSET TYPE: Office BUYER: Mark Millet SELLER: Eric Kutsenda PRICE: $7,379,500 SF: 7,516 ~ PPSF: $981

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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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
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