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818 Magnolia Avenue, Corona...

Avison Young Brokers Facilitate $4.27M Sale Of Office Property In Corona
SOLDOffice

Avison Young Brokers Facilitate $4.27M Sale Of Office Property In Corona

818 Magnolia Avenue, Corona, CA, USA

$4,270,000

$204/SF

Building Size

20,891 SF

Asset Type

Office

Closing

Jan 26, 2021

AI

Located in Corona, the office building at 818 & 830 Magnolia Avenue has recently been sold. The sale, which took place on January 27, 2021, was facilitated by brokers Michael Dettling and Steven Tronson from Avison Young. The property, spanning 20,891 square feet, was sold for a total of $4,270,000, resulting in a price per square foot of $204.

Summary of Transaction Details:

  • Property Type: Office
  • Transaction Amount: $4,270,000
  • Address: 818 & 830 Magnolia Avenue
  • Market: Corona
  • Brokers: Michael Dettling & Steven Tronson - Avison Young
  • Square Footage: 20,891
  • Price per Square Foot: $204

This successful transaction was made possible through the efforts of Michael Dettling and Steven Tronson from Avison Young. They represented the parties involved in the deal, ensuring a smooth and efficient process. The acquisition of the office building at 818 & 830 Magnolia Avenue represents a significant milestone for all parties involved.

Players

Michael Dettling

Avison Young

Broker

$4.3M

vol

1 deal

Broker

Corona 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

3.71%

Cash-on-Cash

-1.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93