Marcus & Millichap Sells Medford Office Building For $2.08M
SOLD
$2,075,000
New Jersey
See Similar DealsOffice26,249 SF
Sold 09/28/2020
SOLD
Marcus & Millichap Sells Medford Office Building For $2.08M
520 Stokes Rd, Medford, NJ 08055, Estados Unidos
See Similar DealsOffice26,249 SF
Sold 09/28/2020
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$79
Total Square Footage:26,249 SF
Transaction Type:Sale
The asset involved in this transaction is an office property located at 520 Stokes Road in Medford. The transaction occurred on September 28, 2020, with a sale price of $2,075,000. The property encompasses a total square footage of 26,249, leading to a price per square foot of $79.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $2,075,000
- Address: 520 Stokes Road
- Market: Medford
- Square Footage: 26,249
- Price per Square Foot: $79
The key individuals representing the transaction are Brian Hosey, Lawrence Gariano, and Michael A. Hinchman from Marcus & Millichap. They facilitated the deal, representing the interests of the parties involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$110,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,372.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,836.56
Annual Debt Service$118,038.70
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