Updated Dec 20, 2023
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
About this deal
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.
On the Map
$7,379,500
$981/SF
Office
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Players
Palo Alto 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
2.15%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93