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1180 Us-46, Parsippany-Troy...

Kislak Brokers Sell Mixed-Use Property In Parsippany For $4.3M
SOLDMixed-use

Kislak Brokers Sell Mixed-Use Property In Parsippany For $4.3M

1180 Us-46, Parsippany-Troy Hills, NJ...

$4,300,000

$107/SF

Building Size

40,000 SF

Asset Type

Mixed-use

Closing

Nov 20, 2023

AI

The asset involved in the transaction is a mixed-use property located at 1180 Us-46, Parsippany-Troy Hills, NJ. The property spans 40,000 square feet and was sold for $4,300,000. The site is positioned on a 3.2-acre parcel and includes three buildings, making it suitable for both office and retail purposes.

Summary of transaction details:

The Kislak Company Inc. facilitated the transaction, representing the seller, who is identified as a private investor. Tom Scatuorchio and Matt Weilheimer of Kislak played crucial roles in the brokerage of this deal, emphasizing their involvement without disclosing any information about the buyer.

Players

Tom Scatuorchio

Kislak

Broker

$92.6M

vol

16 deals

Broker

Parsippany Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.69%

Cash-on-Cash

-1.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93