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22 Route 10 West

Brian Wilson Of Resource Realty Brokers $1.78M Medical Office Sale In Succasunna
SOLDMedical Office

Brian Wilson Of Resource Realty Brokers $1.78M Medical Office Sale In Succasunna

22 Route 10 West

$1,780,000

Building Size

Asset Type

Medical Office

Closing

Apr 30, 2024

AI

A fully leased medical/office building located at 22 Route 10 in Succasunna was sold for $1,780,000. This transaction underscores a positive trend in Morris County's office market, with Resource Realty facilitating three transactions. Principal Brian Wilson led the deals, which also involved securing leases for additional office space at the same building and a separate location in Randolph, showcasing increased activity in well-positioned community office centers.

Summary of transaction details:

Resource Realty, under the leadership of Principal Brian Wilson, played a key role in the $1.78 million sale of the medical/office building in Succasunna. The transactions not only involved the sale of the property but also included securing leases for additional office space, indicating a growing interest in office properties within Morris County. The successful transactions highlight the expertise and effectiveness of Resource Realty in navigating the real estate market.

Players

Brian Wilson

Resource Realty

Broker

$9.3M

vol

9 deals

Broker

Succasunna Medical Office Market Snapshot

Boundary boundary · Medical Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.91%

Cash-on-Cash

-2.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93