38605 Calistoga Dr

Closed Sale: 38605 Calistoga Dr | Murrieta, CA

Seaway Commercial Real Estate Advisors successfully closed the sale of 38605 Calistoga Drive, a 2,332-square-foot medical and professional office condo in the heart of Murrieta’s South Riverside submarket. The asset sold for $640,000, or $274 per square foot, aligning with recent market comps.

This single-story, high-image building was built in 2007 and sits within a 5-acre professional campus alongside notable tenants such as Rucker Orthodontics and Tax Partners. The property features premium interior improvements and is zoned under the Murrieta Specific Plan.

Deal Summary

• Buyer: Jarvis Holdings (Owner-User)

• Seller: Shoup Holdings

• Sale Price: $640,000

• Size: 2,332 SF

• Price/SF: $274

• Asset Type: Medical / Professional Office

• Closing Date: [Insert date if available]

• Zoning: Specific Plan (SP)

• Stories: 1

• Year Built: 2007

Strategic Positioning

The property offered strong appeal for both investors and owner-users. At $2.00 PSF rents, investors would have achieved a cap rate exceeding 6%, making this an attractive yield play in today’s environment. However, the buyer saw long-term strategic value in owner-occupancy and secured SBA financing through Banner Bank.

Brokerage Outcome

Seaway CRE Advisors represented both buyer and seller, facilitating a clean, win-win transaction. Our dual-agency guidance ensured a smooth process aligned with the goals of each party.