38605 Calistoga Dr #C4

Medical Office Condo Sold at $640,000 | 38605 Calistoga Dr. #C4, Murrieta | Dual Representation by Kyle Fried

Kyle Fried of Seaway Commercial Real Estate Advisors successfully represented both the buyer and seller in the Q3 2025 sale of 38605 Calistoga Dr., Suite C4—a 2,239-square-foot medical/professional office condo located in Murrieta’s South Riverside submarket. The property sold for $640,000, reflecting $285 per square foot, and is part of a well-maintained 16,104-square-foot multi-tenant office building.

The transaction marked a win-win outcome: the seller achieved their goal of consolidating investment capital, while the buyer—a growing insurance firm—solved a tax deferral challenge and transitioned from leasing into long-term ownership.

Deal Summary

• Address: 38605 Calistoga Dr. #C4, Murrieta, CA 92563

• Buyer: Private Insurance Firm (Owner-User)

• Seller: Private Investor

• Broker Representation: Kyle Fried, Dual Agency

• Sale Price: $640,000

• Size: 2,239 SF

• Price/SF: $285

• Asset Type: Medical / Professional Office Condo

• Zoning: SP (Specific Plan)

• Year Built: 2007

• Closing Date: Q3 2025

Property Highlights

Located on the ground floor of a professionally managed complex, the suite includes:

• 3 private offices with bluff views

• Spacious boardroom, reception area, and kitchenette

• 2 restrooms, 2 additional offices/storage areas

• Rear patio access

• Excellent freeway connectivity (I-215, I-15, Hwy 79)

• OA services include window washing, pest control, landscaping, shared HVAC, and utilities

The suite was fully built out and ideal for a professional owner-user—particularly those seeking favorable SBA or conventional financing.

Transaction Complexity & Execution

This was a competitive listing with strong buyer interest, but not all buyers were eligible due to SP zoning restrictions. The selected buyer had a 1031-style tax scenario and needed to transition out of leasing and into ownership quickly.

We negotiated a price improvement aligned with current comps and ensured a smooth experience by:

• Resolving condo association diligence issues

• Coordinating multiple inspections

• Introducing a lender who structured a favorable conventional loan with aggressive rate and point discounts

Strategic Fit

The buyer was already operating nearby and needed a turnkey professional office footprint to support expansion. This location offered a rare blend of affordability, quality buildout, and location efficiency, making it the ideal long-term solution.

Brokerage Value Delivered

• Full dual representation with clear alignment and discretion

• Navigated complex zoning restrictions and buyer qualifications

• Coordinated lender, appraiser, and association for a seamless close

• Advised on valuation, deal structuring, and financing path

• Delivered both asset value and business continuity for buyer

FAQs

1. Why was this suite attractive to the buyer?
It provided a built-out footprint that matched their space needs, was close to their existing office, and allowed them to solve a tax-related reinvestment challenge.

2. How was the transaction financed?
The deal was financed with a conventional loan, not SBA, through a competitive lender offering favorable terms and rate discounts.

3. What due diligence items were key to the transaction?
We addressed condo association compliance, completed multiple property inspections, and negotiated deal terms that balanced valuation and financing timelines.