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CBRE Acquires Medical Office In Palm Desert For $4.3M

Property Image
SOLD
$4,300,000

California

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Office9,257 SF
Sold 08/28/2021
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Property Image
SOLD

CBRE Acquires Medical Office In Palm Desert For $4.3M

72415 Park View Dr, Palm Desert, CA, USA

See Similar Deals
Office9,257 SF
Sold 08/28/2021
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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.

Players

Cray Carlson
16 deals$147.1M volume(909) 418-2092
BROKER

Kevin Sin
CBRE
21 deals$126.6M volume
BROKER

Noel Ramos
1 deal$4.3M volume
BROKER

Details

SOLD
IMAGE: Cray Carlson, Kevin Sin & Noel Ramos DATE: 08/28/2021 ADDRESS: 72415 Park View Dr. MARKET: Palm Desert ASSET TYPE: Medical Office BUYER’S REP: Cray Carlson & Kevin Sin - CBRE SELLER’S REP: Noel Ramos - Wilson Meade SALE PRICE: $4,300,000 SF: 9,257 ~ PPSF: $464

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Deal Type
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