The Emerson Group Acquires Office Building In Morristown For $1.7M
79 Maple Avenue, Morristown, New Jersey 07960, United States
$1,700,000
$170/SF
Building Size
10,000 SF
Asset Type
Office
Closing
Feb 1, 2022
AI
The office property located at 79 Maple Ave in Morristown has been sold. The transaction took place on 02/02/2022 with a sale price of $1,700,000. The property spans 10,000 square feet, resulting in a price per square foot of $170.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $1,700,000
- Square Footage: 10,000
- Price Per Square Foot: $170
- Address: 79 Maple Ave, Morristown
The buyer of the property is The Emerson Group, while S-D Development acted as the seller. Doug Gaffney from Lee & Associates New Jersey served as the broker for this transaction.
Players
Morristown 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
9.33%
Cash-on-Cash
-2.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93