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Atkins Cos Acquires Medical Office Building In Fair Lawn New Jersey For $22 Million
SOLD
New Jersey
See Similar DealsMedical Office151,339 SF
Sold 02/10/2025
SOLD
Atkins Cos Acquires Medical Office Building In Fair Lawn New Jersey For $22 Million
17 17 New Jersey Highway 208
See Similar DealsMedical Office151,339 SF
Sold 02/10/2025
Summary
NEW JERSEY
Asset Type:Medical Office
Price Per Square Foot:$145
Total Square Footage:151,339 SF
Transaction Type:Sale
The medical office building located at 17-17 New Jersey Highway 208 in Fair Lawn, NJ, was sold for $22,000,000. The property spans 151,339 square feet, resulting in a sale price per square foot of $145.
Summary of transation details:
- Property Type: Medical Office
- Transaction Amount: $22,000,000
- Address: 17-17 New Jersey Highway 208
- Market: Fair Lawn, NJ
- Square Footage: 151,339
- Price Per Square Foot: $145
- Buyer: Robert E. Atkins - Atkins Cos
- Seller: Bill Glazer - Keystone Development + Investment
- Brokers: Brannan Knott, Christopher Bodnar, Daniel Blumenkrantz, Douglas Rodio, Jeffrey Dunne & Travis Langer - CBRE
Atkins Cos. acquired the property from Keystone Development + Investment, facilitated by CBRE, which represented the seller and secured the buyer in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,173,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$78,161.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$104,291.22
Annual Debt Service$1,251,494.69
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