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869 Broad Avenue

Nan Oh Brokers $1.25M Land Sale In Ridgefield With Medical Complex Potential
SOLDLand

Nan Oh Brokers $1.25M Land Sale In Ridgefield With Medical Complex Potential

869 Broad Avenue

$1,250,000

Building Size

Asset Type

Land

Closing

Jun 12, 2024

AI

The vacant land at 869 Broad Avenue in Ridgefield was sold for $1.25 million. The property is approved for a 2-story medical complex with 9,300 sqft of space and 18 parking spaces. It is located next to a retail building, situated on a prime border spot between Palisades Park and Ridgefield.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $1,250,000
  • Address: 869 Broad Avenue
  • Market: Ridgefield

Nan Oh of Hyst Realty Group was the broker who facilitated the sale of the land. This transaction involved a property primed for a medical complex development, showcasing the growing demand for such facilities in the area.

Players

Nan Oh

Hyst Realty Group

Broker

$2.7M

vol

2 deals

Broker

Ridgefield Land Market Snapshot

Boundary boundary · Land · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

12.69%

Cash-on-Cash

-3.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93