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Jenna Glick Of Newmark Associates CRE Brokers $1.787M Sale Of Medical Office In Boonton
SOLD
$1,787,500
New Jersey
See Similar DealsMedical Office10,000 SF
Sold 11/10/2025
SOLD
Jenna Glick Of Newmark Associates CRE Brokers $1.787M Sale Of Medical Office In Boonton
550 West Main Street
See Similar DealsMedical Office10,000 SF
Sold 11/10/2025
Summary
NEW JERSEY
Asset Type:Medical Office
Price Per Square Foot:$178
Total Square Footage:10,000 SF
Transaction Type:Sale
A 10,000 square foot medical office building has been sold for $1,787,500 at the address of 550 West Main Street in Boonton. The asset features 13 private offices and is occupied by a mix of medical, wellness, and professional tenants, reflecting its diverse use within the market.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $1,787,500
- Square Footage: 10,000
- Address: 550 West Main Street
- Market: Boonton
- Price Per Square Foot: $179
The transaction was brokered by Jenna Glick representing Newmark Associates CRE. The deal emphasizes the strong demand from investors for well-tenanted suburban office properties located in prime areas of Morris County.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$95,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,350.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,473.66
Annual Debt Service$101,683.94
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