Colliers Acquires Office Building In Parsippany For $4.4M
SOLD
$4,400,000
New Jersey
See Similar DealsOffice19,298 SF
Sold 08/11/2022
SOLD
Colliers Acquires Office Building In Parsippany For $4.4M
150 Smith Road, Parsippany, New Jersey 07054, United States
See Similar DealsOffice19,298 SF
Sold 08/11/2022
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$228
Total Square Footage:19,298 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$234,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,632.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,858.24
Annual Debt Service$250,298.94
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