Medical Office In Woodbury Sold For $7.2M By Marcus & Millichap
SOLD
$7,200,000
New Jersey
See Similar DealsOffice52,079 SF
Sold 10/21/2021
SOLD
Medical Office In Woodbury Sold For $7.2M By Marcus & Millichap
603 North Broad Street, Woodbury, NJ 08096, USA
See Similar DealsOffice52,079 SF
Sold 10/21/2021
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$138
Total Square Footage:52,079 SF
Transaction Type:Sale
A medical office property located at 603, 608, 620 & 730 North Broad St. in Woodbury was recently sold for a price of $7,200,000. The property spans across a total area of 52,079 square feet, resulting in a price per square foot of $138. The sale transaction took place on October 21, 2021.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $7,200,000
- Square Footage: 52,079
- Price per Square Foot: $138
- Market: Woodbury
The sale was facilitated by Alan Cafiero, Brent Hyldahl, and Ben Sgambati from Marcus & Millichap. They acted as the brokers representing 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)
$384,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,580.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,131.67
Annual Debt Service$409,580.08
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