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

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SOLD
$1,780,000

New Jersey

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Medical Office
Sold 04/30/2024
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SOLD

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

22 Route 10 West

See Similar Deals
Medical Office
Sold 04/30/2024
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Summary

NEW JERSEY
Asset Type:Medical Office
Transaction Type:Sale

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
9 deals$9.3M volume(973) 299-0900
BROKER

Details

SOLD
IMAGE: Brian Wilson DATE: 04/30/2024 ADDRESS: 22 Route 10 MARKET: Succasunna ASSET TYPE: Medical Office BROKER: Brian Wilson - Resource Realty SALE PRICE: $1,780,000 NOTE: Resource Realty facilitated three transactions, including the $1.78 million sale of a fully leased medical/office building in Succasunna, underscoring a positive trend in Morris County's office market. Principal Brian Wilson led the deals, securing leases for additional office space at the same building and a separate location in Randolph, demonstrating increased activity in well-positioned community office centers.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$94,933.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,323.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,438.11
Annual Debt Service$101,257.30