Updated Oct 29, 2024
The Mental Health Association Of Essex And Morris County Acquires Office Building In Parsippany, NJ For $2.8M
1160 Parsippany Blvd
$2,800,000
$122/SF
Building Size
22,798 SF
Asset Type
Office
Closing
Mar 31, 2023
About this deal
AI
The Mental Health Association of Essex and Morris County has acquired an office property located at 1160 Parsippany Blvd in Parsippany, NJ. The property spans across 22,798 square feet and was sold at a price of $2,800,000, resulting in a price per square foot of approximately $123.
Summary of Transaction Details:
- Property Type: Office
- Sale Price: $2,800,000
- Square Footage: 22,798
- Price per Square Foot: $123
- Address: 1160 Parsippany Blvd, Parsippany, NJ
- Market: Parsippany, NJ
The transaction was facilitated by broker Josh Levering from NAI James E. Hanson, who represented The Mental Health Association of Essex and Morris County in the deal.
Players
Parsippany-Troy Hills Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93