Elite Concierge Medicine Leases 1,105-SF Medical Office At 414 Eagle Rock Avenue In West Orange
414 Eagle Rock Avenue
Building Size
1,105 SF
Asset Type
Medical Office
Closing
Feb 13, 2025
AI
The property involved is a medical office located at 414 Eagle Rock Avenue in West Orange, featuring a total square footage of 1,105. The asset is held by the landlord, Cort Eagle LLC.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: Not disclosed
- Address: 414 Eagle Rock Avenue
- Market: West Orange
- Landlord: Cort Eagle LLC
- Tenant: Elite Concierge Medicine
- Brokers: Darren Lizzack & Randy Horning - NAI James E. Hanson
This lease transaction was facilitated by brokers Darren Lizzack and Randy Horning, who represented the landlord, Cort Eagle LLC. The deal illustrates the increasing interest in concierge medical practices within the healthcare sector.
Players
West Orange Medical Office Market Snapshot
Boundary boundary · Medical Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93