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:
- Property Type: Office
- Transaction Amount: $3,750,000
- Buyer: OBC Realty of North Jersey
- Seller: Mark Charnet - MTCZJS Properties
- Broker: Roman Drukarov - Berkshire Hathaway HomeServices
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.
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