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67 Walnut Ave, Clark, NJ 07...

Updated Dec 20, 2023

Marcus & Millichap Brokers Facilitate $13.1M Acquisition Of Office Property In Clark, NJ
SOLDOffice

Marcus & Millichap Brokers Facilitate $13.1M Acquisition Of Office Property In Clark, NJ

67 Walnut Ave, Clark, NJ 07066, USA

$13,075,000

$17/SF

Building Size

761,460 SF

Asset Type

Office

Closing

May 13, 2020

About this deal

AI

An office property located at 67 Walnut Avenue in Clark, NJ has recently been sold in a closed transaction. The property spans approximately 76,146 square feet and was sold for a price of $13,075,000, resulting in an average price per square foot of $171.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $13,075,000
  • Square Footage: 76,146
  • Price per Square Foot: $171
  • Address: 67 Walnut Avenue, Clark, NJ
  • Market: Clark, NJ

The deal was facilitated by Fahri Ozturk and Richard Gatto from Marcus & Millichap. They represented the parties involved in the transaction, ensuring a successful conclusion.

Players

Richard Gatto

CBRE

Broker

$999.8M

vol

43 deals

Broker

Clark Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $17 per square foot on a published $13.1M for 761,460 square feet (2020).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.21%

Cash-on-Cash

-0.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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