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711 Colorado Avenue, Palo A...

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

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

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

$7,379,500

$981/SF

Building Size

7,516 SF

Asset Type

Office

Closing

Feb 23, 2022

AI

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

Mark Millet

Buyer

$22.7M

vol

3 deals

Buyer

Palo Alto Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.15%

Cash-on-Cash

-0.61%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93