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
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