Maywood Physical Therapy And Rehab Center Acquires Property In Elmwood Park With Dominic Fittizzi As Representative
253 S Washington Ave, Bergenfield, N...
Building Size
5,245 SF
Asset Type
Office
Closing
Nov 19, 2023
AI
The property located at 253 S Washington Ave in Bergenfield is a 5,245-square-foot office building. It has been sold in the Elmwood Park market by S&S Realty Holding Co. LLC to Maywood Physical Therapy and Rehab Center. The building features 14 parking spaces and is situated at the corner of South Washington Avenue and Carnation Street.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: Not disclosed
- Address: 253 S Washington Ave, Bergenfield, NJ
- Market: Elmwood Park
- Square Footage: 5,245
- Seller's Representative: Dominic Fittizzi
- Buyer: Maywood Physical Therapy and Rehab Center
Dominic Fittizzi of NAI Hanson represented the seller in this transaction. Maywood Physical Therapy and Rehab Center, which also operates a location in Emerson, plans to occupy part of the building while leasing the remainder to four current tenants. The transaction highlights the growing trend of businesses recognizing the benefits of property ownership amid elevated pricing in the northern New Jersey market.
Elmwood Park 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93