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9565 Waples St, Sorrento Me...

Renda Law Offices Acquires Office Building In Sorrento Mesa, San Diego For $3.1M
SOLDOffice

Renda Law Offices Acquires Office Building In Sorrento Mesa, San Diego For $3.1M

9565 Waples St, Sorrento Mesa, San Diego, CA, USA

$3,100,000

$226/SF

Building Size

13,695 SF

Asset Type

Office

Closing

Jun 29, 2020

AI

Renda Law Offices P.C. has acquired an office property located at 9565 Waples St in Sorrento Mesa, San Diego. The transaction took place on June 30, 2020, with the property being sold by 9565 Waples Investment Group LLC. The office spans a total area of 13,695 square feet and was sold for a price of $3,100,000, resulting in a price per square foot of $226. The property is situated in the Sorrento Mesa market.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $3,100,000
  • Address: 9565 Waples St, Sorrento Mesa, San Diego
  • Market: Sorrento Mesa, San Diego

The deal was facilitated by Brandon Keith, Kipp Gstettenbauer, and Ryan King from Voit Real Estate Services, who represented both the buyer and the seller in the transaction.

Players

Brandon Keith

Broker

$65.4M

vol

5 deals

Broker

San Diego 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

5.12%

Cash-on-Cash

-1.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93