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Voit Real Estate Services Sells Fully Leased Office Building In San Diego For $17M
$17,000,000
SOLD
$17,000,000
California
See Similar DealsOffice54,000 SF
Sold 03/28/2024
$17,000,000
SOLD
Voit Real Estate Services Sells Fully Leased Office Building In San Diego For $17M
9573 Chesapeake Drive
See Similar DealsOffice54,000 SF
Sold 03/28/2024
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$314
Total Square Footage:54,000 SF
Transaction Type:Sale
An office building located at 9573 & 9577 Chesapeake Drive in San Diego's Kearny Mesa submarket was recently sold for $17 million ($315 per square foot). The transaction was handled by Brandon Keith and Randy LaChance of Voit Real Estate Services.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $17,000,000
- Address: 9573 & 9577 Chesapeake Drive
- Market: San Diego
- Square Footage: 54,000
- Brokers: Brandon Keith & Randy LaChance - Voit Real Estate Services
The office building, fully leased and spanning two stories, was successfully sold by Voit Real Estate Services in a deal brokered by Brandon Keith and Randy LaChance. The identities of the buyer and seller remain undisclosed in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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