Teaneck Medical LLC Acquires Paramus, NJ Office Building For $1.85M
SOLD
$1,850,000
New Jersey
See Similar DealsOffice10,000 SF
Sold 09/30/2022
SOLD
Teaneck Medical LLC Acquires Paramus, NJ Office Building For $1.85M
81 New Jersey Highway 4
See Similar DealsOffice10,000 SF
Sold 09/30/2022
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$185
Total Square Footage:10,000 SF
Transaction Type:Sale
An office property located at 81 E Rte 4 in Paramus, NJ has been sold for a price of $1,850,000. The property spans 10,000 square feet and has a price per square foot of $185. The transaction took place on September 30, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $1,850,000
- Address: 81 E Rte 4, Paramus, NJ
- Market: Paramus, NJ
- Buyer: Teaneck Medical LLC
- Seller: Sauer Associates II, LLC
- Brokers: Randy Horning & Darren Lizzack - NAI James E. Hanson
The buyer of the property was Teaneck Medical LLC, while the seller was Sauer Associates II, LLC. The transaction was facilitated by brokers Randy Horning and Darren Lizzack from NAI James E. Hanson.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$98,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,572.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,769.94
Annual Debt Service$105,239.33
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