CBRE Acquires Medical Office In Palm Desert For $4.3M
SOLD
California
See Similar DealsOffice9,257 SF
Sold 08/28/2021
SOLD
CBRE Acquires Medical Office In Palm Desert For $4.3M
72415 Park View Dr, Palm Desert, CA, USA
See Similar DealsOffice9,257 SF
Sold 08/28/2021
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$464
Total Square Footage:9,257 SF
Transaction Type:Sale
Located at 72415 Park View Dr. in Palm Desert, this medical office was recently sold in a closed transaction. The property spans approximately 9,257 square feet and was sold for $4,300,000, resulting in a price per square foot of $464.
Summary of transaction details
- Property Type: Medical Office
- Sale Price: $4,300,000
- Square Footage: 9,257
- Price per Square Foot: $464
- Address: 72415 Park View Dr.
- Market: Palm Desert
In this transaction, the buyer was represented by Cray Carlson and Kevin Sin from CBRE, while Noel Ramos from Wilson Meade acted as the seller's representative.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$229,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33
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