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9860 Irvine Center Drive

Updated Oct 29, 2024

Meila Homes Acquires Office Building In Irvine For $3.2M
SOLDOffice

Meila Homes Acquires Office Building In Irvine For $3.2M

9860 Irvine Center Drive

$3,214,080

$540/SF

Building Size

5,952 SF

Asset Type

Office

Closing

Apr 5, 2023

About this deal

AI

Rhythm Interactive Marketing Agency has sold an office property located at 9860 Irvine Center Drive in Irvine. The property, measuring 5,952 square feet, was sold to Meila Homes for a price of $3,214,080. The transaction took place on April 5, 2023, and the property was initially listed at an asking price of $3,300,000. This translates to a price per square foot of $540.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $3,214,080
  • Square Feet: 5,952
  • Asking Price: $3,300,000
  • Price per Square Foot: $540

The deal was facilitated by Matthew Biggs and Tibor Kelemen from Kelemen Company, who represented both the buyer, Meila Homes, and the seller, Rhythm Interactive Marketing Agency. Matthew Biggs and Tibor Kelemen acted as brokers in this transaction.

Players

Matthew Biggs

The Kelemen Company

Broker

$3.2M

vol

1 deal

Broker

Market Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $540 per square foot on a published $3.2M for 5,952 square feet (2023).

Visit The Kelemen Company to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.94%

Cash-on-Cash

-1.41%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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