Sale Status: Sold
Sale Date: 06/03/2016
Sale Price: $2,363,000 ($504.59/SF)
Property Type: Office
Property Subtype: Office Building
Building Size: 4,683 SF
Lot Size: 2,800.00 Acres
2411 Ocean Avenue, a two story multi-tenant office building totaling 4,683 rentable square feet. The subject property is 100% occupied, 80% by stable dental practices and 20% by a well established R&D company. Four of the five tenants exercised extension options within the last six months, two of which expire in 2021. The remaining leases expire in 2016, 2017, and 2019. Tenants have demonstrated a commitment to long term occupancy with a history of extensive tenant improvement investments and successive lease option extensions priced at fair market value.