CBRE Brokers Sell Parsippany Office Building For $4.9M
SOLD
$4,900,000
+ 1
New Jersey
See Similar DealsOffice85,000 SF
Sold 01/13/2022
SOLD
CBRE Brokers Sell Parsippany Office Building For $4.9M
299 Cherry Hill Road, Parsippany, NJ 07054
See Similar DealsOffice85,000 SF
Sold 01/13/2022
+ 1
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$57
Total Square Footage:85,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$261,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,408.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,228.50
Annual Debt Service$278,742.00
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