The Claudius Group - KW Commercial Sells Retail/Office Medical Property In Montclair For $1.45M
SOLD
$1,450,000
New Jersey
See Similar DealsRetail3,000 SF
Sold 12/30/2022
SOLD
The Claudius Group - KW Commercial Sells Retail/Office Medical Property In Montclair For $1.45M
314-316 Orange Road
See Similar DealsRetail3,000 SF
Sold 12/30/2022
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$483
Total Square Footage:3,000 SF
Transaction Type:Sale
Located at 314-316 Orange Road in Montclair, this retail/office medical property was recently sold in a closed transaction. The property spans over 3,000 square feet and offers versatile space for various business needs. The sale price for this property was $1,450,000, with an asking price of $1,500,000, resulting in a price per square foot of $483.
Summary of transaction details:
- Property Type: Retail/Office Medical
- Transaction Amount: $1,450,000
- Address: 314-316 Orange Road, Montclair
- Market: Montclair
- Broker: Marcos Claudius - The Claudius Group - KW Commercial
Marcos Claudius from The Claudius Group - KW Commercial represented the parties involved in this transaction. This successful sale showcases the expertise and negotiation skills of Marcos Claudius and highlights the demand for properties in Montclair's market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$77,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,151.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,873.74
Annual Debt Service$82,484.88
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