Updated Dec 21, 2023
Salvatore Giovannotto Acquires Retail Property In Palo Alto, CA For $8M
451 University Avenue, Palo Alto, California 94301, United States
$8,000,000
$1,176/SF
Building Size
6,800 SF
Asset Type
Retail
Closing
May 1, 2022
About this deal
AI
The retail property located at 451 University Ave in Palo Alto, CA has been sold. The transaction took place on 05/02/2022. The property encompasses 6,800 square feet and was sold for a total price of $8,000,000, resulting in a price per square foot of $1,176.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,000,000
- Address: 451 University Ave, Palo Alto, CA
- Square Footage: 6,800
The buyer of the property is Salvatore Giovannotto. On the other hand, the sellers include Michael W Bender, Faith Mary Ward, Lorna Joy Swain, Alan Swain, Terry A Stone, Donald R Stone, Robert Edward Naiche Shashinda, Lorna Joy Shashinda, and Twanet Swain Bender.
Players
Palo Alto Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93