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:
- Property Type: Medical Office
- Transaction Amount: $1,780,000
- Address: 22 Route 10
- Market: Succasunna
- Broker: Brian Wilson - Resource Realty
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
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