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
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