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901 New Jersey Highway 23

OBC Realty Of North Jersey Purchases Office Building In Pompton Plains For $3.75M
SOLDOffice

OBC Realty Of North Jersey Purchases Office Building In Pompton Plains For $3.75M

901 New Jersey Highway 23

$3,750,000

$250/SF

Building Size

15,000 SF

Asset Type

Office

Closing

Nov 18, 2024

AI

The property involved in the transaction is an office located at 901 New Jersey Highway 23 in Pompton Plains. The sale price for the property was $3,750,000, with a total square footage of 15,000, resulting in a price per square foot of $250.

Summary of transaction details:

Roman Drukarov represented the broker in this transaction and noted that the building will be transformed into a center dedicated to natural birthing and family care. The new location is set to open in New Jersey in 2025, and there is one more space available in the building for leasing individual offices or a suite.

Players

Roman Drukarov

Berkshire Hathaway HomeServices

Broker

$22.5M

vol

8 deals

Broker

Pompton Plains Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.23%

Cash-on-Cash

-1.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93