Updated Dec 4, 2024
844 Condos And Bruce Wentworth Properties Sell Medical Condominiums In Westminster For $2.175M
826 Washington Road
$2,175,000
Building Size
—
Asset Type
Medical Office
Closing
Jul 15, 2024
About this deal
AI
The transaction involved the sale of two medical condominiums located at 826 Washington Road in Westminster, MD, specifically within the Phyllis Green Medical Center. The combined sale price for these assets was $2,175,000, comprising $825,000 for one unit aimed at expanding a medical practice, and $1.35 million for the other unit purchased as a long-term investment for the Westminster Surgery Center.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $2,175,000
- Seller: 844 Condos, LLC & Bruce Wentworth Properties, LLC
- Broker: Dennis Boyle - MacKenzie Commercial Real Estate Services
- Location: 826 Washington Road, Westminster, MD
MacKenzie Commercial Real Estate Services facilitated the sale of these medical condominiums, indicating their active role in the healthcare property market. Dennis Boyle represented the broker’s side in this transaction, contributing to the successful closing of the deal.
On the Map
$2,175,000
Medical Office
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Westminster Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.29%
Cash-on-Cash
-2.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93