Updated Oct 28, 2024
Aspen Advisors Sells Medical Office On Union Avenue In Rutherford, NJ For $6.9M
71 Union Avenue, Rutherford, NJ, USA
$6,900,000
$214/SF
Building Size
32,226 SF
Asset Type
Office
Closing
Aug 9, 2020
About this deal
AI
A medical office located at 71 Union Avenue in Rutherford, NJ was recently sold for $6,900,000. The property spans 32,226 square feet, resulting in a price per square foot of $214. The transaction took place on August 9, 2021. The seller of the medical office was Aspen Advisors.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $6,900,000
- Square Footage: 32,226
- Price per Square Foot: $214
- Address: 71 Union Avenue, Rutherford, NJ
- Market: Rutherford, NJ
The sale of this medical office was facilitated by the brokers Jacklene Chesler and Patrick Norris from Colliers.
Players
Rutherford Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.30%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93