Updated Dec 21, 2023
CBRE Brokers Sell Parsippany Office Building For $4.9M
299 Cherry Hill Road, Parsippany, NJ 07054
$4,900,000
$57/SF
Building Size
85,000 SF
Asset Type
Office
Closing
Jan 13, 2022
About this deal
AI
A 85,000 square foot office property located at 299 Cherry Hill Road in Parsippany, NJ has been sold for $4,900,000. The property was listed for sale and was purchased on 01/13/2022.
Summary of transaction details
- Property Type: Office
- Sale Price: $4,900,000
- Square Footage: 85,000 SF
- Price per Square Foot: $58
- Address: 299 Cherry Hill Road, Parsippany, NJ
- Market: Parsippany, NJ
The sale was facilitated by CBRE brokers Charles Berger, Mark Silverman, Elli Klapper, and Thomas Mallaney. They represented the buyer and seller in the transaction.
On the Map
$4,900,000
$57/SF
Office
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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
3.24%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93