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
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