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150 Smith Road, Parsippany,...

Colliers Acquires Office Building In Parsippany For $4.4M
SOLDOffice

Colliers Acquires Office Building In Parsippany For $4.4M

150 Smith Road, Parsippany, New Jersey 07054, United States

$4,400,000

$228/SF

Building Size

19,298 SF

Asset Type

Office

Closing

Aug 10, 2022

AI

An office property located at 150 Smith Rd in Parsippany was recently sold for $4,400,000. The property has a total area of 19,298 square feet, resulting in a price per square foot of $228.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $4,400,000
  • Address: 150 Smith Rd
  • Market: Parsippany
  • Brokers: Jacklene Chesler, Patrick Norris & Joe Lane - Colliers
  • Square Footage: 19,298
  • Price Per Square Foot: $228

The sale of the office property at 150 Smith Rd was facilitated by brokers Jacklene Chesler, Patrick Norris, and Joe Lane from Colliers. They represented the buyer and the seller in the transaction.

Players

Jacklene Chesler

Colliers

Broker

$209.4M

vol

25 deals

Broker

Parsippany Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.61%

Cash-on-Cash

-1.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93