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WorldShine Group Acquires Office Property In Gaithersburg, MD For $20M
SOLD
$20,000,000
+ 1
Maryland
See Similar DealsOffice67,808 SF
Sold 05/03/2023
SOLD
WorldShine Group Acquires Office Property In Gaithersburg, MD For $20M
700 Professional Drive Gaithersburg, Maryland 20879, USA
See Similar DealsOffice67,808 SF
Sold 05/03/2023
+ 1
Summary
MARYLAND
Asset Type:Office
Price Per Square Foot:$295
Total Square Footage:67,808 SF
Transaction Type:Sale
The office property located at 700 Professional Drive in Gaithersburg, MD has been sold in a transaction handled by Vernon Knarr, Art Greenberg, Gary Stein, and Jon Glass from Savills. The property sits on approximately 8.9 acres and offers 67,808 square feet of space.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $20,000,000 (Approx.)
- Square Footage: 67,808
- Price per Square Foot: $295
The buyer for this transaction is WorldShine Group. The deal was facilitated by the brokers mentioned above, representing Savills.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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