Teaneck Medical LLC Acquires Paramus, NJ Office Building For $1.85M
81 New Jersey Highway 4
$1,850,000
$185/SF
Building Size
10,000 SF
Asset Type
Office
Closing
Sep 30, 2022
AI
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.
Players
Paramus 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
8.57%
Cash-on-Cash
-2.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93