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603 North Broad Street, Woo...

Medical Office In Woodbury Sold For $7.2M By Marcus & Millichap
SOLDOffice

Medical Office In Woodbury Sold For $7.2M By Marcus & Millichap

603 North Broad Street, Woodbury, NJ 08096, USA

$7,200,000

$138/SF

Building Size

52,079 SF

Asset Type

Office

Closing

Oct 21, 2021

AI

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.

Players

Ben Sgambati

Marcus & Millichap

Broker

$121.9M

vol

19 deals

Broker

Woodbury 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

2.20%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93