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844 Condos And Bruce Wentworth Properties Sell Medical Condominiums In Westminster For $2.175M

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SOLD
$2,175,000

Maryland

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Medical Office
Sold 07/15/2024
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SOLD

844 Condos And Bruce Wentworth Properties Sell Medical Condominiums In Westminster For $2.175M

826 Washington Road

See Similar Deals
Medical Office
Sold 07/15/2024
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Summary

MARYLAND
Asset Type:Medical Office
Transaction Type:Sale

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:

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.

Players

Dennis Boyle
3 deals$4.7M volume(443) 798-9339
BROKER

Details

SOLD
IMAGE: 07/15/2024 ADDRESS: 826 Washington Road MARKET: Westminster, MD ASSET TYPE: Medical Office SELLER: 844 Condos, LLC & Bruce Wentworth Properties, LLC BROKER: Dennis Boyle - MacKenzie Commercial Real Estate Services SALE PRICE: $2,175,000 NOTE: MacKenzie Commercial Real Estate Services sold two medical condominiums in the Phyllis Green Medical Center, Westminster, Maryland, for a combined $2.175 million. Unit sold for $825,000 to expand a medical practice, while unit sold for $1.35 million as a long-term investment for the Westminster Surgery Center.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$115,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,727.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,310.61
Annual Debt Service$123,727.32