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305 Washington Avenue

Updated Dec 4, 2024

John Olszewski Jr Acquires Office Tower At 305 Washington Ave In Towson For $5.8M
SOLDOffice

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

Towson Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $109 per square foot on a published $5.8M for 53,000 square feet (2023).

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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

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