John Olszewski Jr Acquires Office Tower At 305 Washington Ave In Towson For $5.8M
305 Washington Avenue
$5,800,000
$109/SF
Building Size
53,000 SF
Asset Type
Office
Closing
Sep 26, 2023
About this deal
AI
A 32-year-old office tower at 305 Washington Ave. in Towson, MD has been sold for $5.8 million. The buyer, John Olszewski Jr - Baltimore County, purchased the property from 305 Washington LLC. The office building spans across 53,000 square feet and has a price per square foot of $109. This transaction provides additional workspace for various public agencies in Baltimore County.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $5,800,000
- Address: 305 Washington Avenue, Towson, MD
- Market: Towson, MD
- Buyer: John Olszewski Jr - Baltimore County
- Seller: 305 Washington LLC
- Square Footage: 53,000
- Price per Square Foot: $109
Baltimore County's purchase of the office tower at 305 Washington Ave. in Towson will serve as additional workspace for various public agencies. This deal underscores the county's efforts to expand its office infrastructure to accommodate the needs of its agencies.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93