Updated Oct 29, 2024
Private Investor Acquires Hemet Property For $5.6 Million With Representation By Henry Liu And Greg Bedell
910 N State St, Hemet, CA, 92543
$5,600,000
$140/SF
Building Size
39,796 SF
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
The property asset involved in this transaction is the Courtyard Medical & Professional Center, situated at 910-960 N. State St., Hemet, CA, 92543. The center was sold for $5,600,000.00 and encompasses 39,796 square feet. It was fully occupied at the time of sale, built in 1981, and it operates within the Hemet market.
Summary of transaction details:
- Property Type: Medical & Professional Center
- Transaction Amount: $5,600,000.00
- Buyer: Private Investor
- Seller: Unknown
- Buyer's Representative: Henry Liu
- Seller's Representative: Greg Bedell-Progressive Real Estate Partners
- Market: Hemet
In this transaction, Henry Liu represented the buyer, a private investor based in Newport Beach, while Greg Bedell of Progressive Real Estate Partners represented the seller, whose identity remains unknown. The sale was arranged by Progressive Real Estate Partners, emphasizing their role in facilitating the transaction within the Hemet market.
Players
Hemet 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
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93