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253 S Washington Ave, Berge...

Maywood Physical Therapy And Rehab Center Acquires Property In Elmwood Park With Dominic Fittizzi As Representative
SOLDOffice

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.

Players

Dominic Fittizzi

NAI James E. Hanson

Broker

$6.9M

vol

6 deals

Broker

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