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210 North Ave, Garwood, NJ ...

Esha Farms LLC Acquires Medical Office In Cranford For $2.3M
SOLDOffice

Esha Farms LLC Acquires Medical Office In Cranford For $2.3M

210 North Ave, Garwood, NJ 07027, USA

$2,300,000

$163/SF

Building Size

14,061 SF

Asset Type

Office

Closing

Sep 8, 2020

AI

Esha Farms LLC has acquired a medical office property located at 210 North Avenue in Cranford. The property spans 14,061 square feet and was sold for a price of $2,300,000, translating to a price per square foot of $164. The sale was facilitated by Suzanne Tharaldsen and James Hodgkins of Bussel Realty Corp, who represented the buyer. The seller, Van Brunt Real Estate LLC, was represented by Zeustra.

Summary of transaction details

  • Property Type: Medical Office
  • Transaction Amount: $2,300,000
  • Address: 210 North Avenue
  • Market: Cranford
  • Square Footage: 14,061
  • Price per Square Foot: $164
  • Buyer: Esha Farms LLC
  • Seller: Van Brunt Real Estate LLC
  • Buyer's Rep: Suzanne Tharaldsen & James Hodgkins - Bussel Realty Corp
  • Seller's Rep: Zeustra

This transaction showcases the active market for medical office properties in Cranford. In this deal, Esha Farms LLC successfully acquired the property at 210 North Avenue, with representation from Suzanne Tharaldsen and James Hodgkins of Bussel Realty Corp. The seller, Van Brunt Real Estate LLC, was advised by Zeustra. The sale price of $2,300,000 and the price per square foot of $164 reflect the value of this medical office asset in the Cranford market.

Players

Suzanne Tharaldsen

Broker

$2.3M

vol

1 deal

Broker

Garwood 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

6.90%

Cash-on-Cash

-1.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93