Renda Law Offices Acquires Office Building In Sorrento Mesa, San Diego For $3.1M
SOLD
$3,100,000
California
See Similar DealsOffice13,695 SF
Sold
SOLD
Renda Law Offices Acquires Office Building In Sorrento Mesa, San Diego For $3.1M
9565 Waples St, Sorrento Mesa, San Diego, CA, USA
See Similar DealsOffice13,695 SF
Sold
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$226
Total Square Footage:13695 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$165,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98
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