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Marcus & Millichap Sells BrightPath Childcare Center In Parsippany For $4.3M
SOLD
$4,300,000
+ 1
New Jersey
See Similar DealsSchool11,266 SF
Sold 04/24/2025
SOLD
Marcus & Millichap Sells BrightPath Childcare Center In Parsippany For $4.3M
70 Old Bloomfield Avenue
See Similar DealsSchool11,266 SF
Sold 04/24/2025
+ 1
Summary
NEW JERSEY
Asset Type:School
Price Per Square Foot:$381
Total Square Footage:11,266 SF
Transaction Type:Sale
A net-leased BrightPath Childcare Center located at 70 Old Bloomfield Avenue in Parsippany was sold for $4,300,000. The property encompasses 11,266 square feet and has a price per square foot of $382. It was constructed in 2014 and includes 41 parking spaces.
Summary of transaction details:
- Property Type: School
- Transaction Amount: $4,300,000
- Square Footage: 11,266
- Price per Square Foot: $382
- Address: 70 Old Bloomfield Avenue
- Market: Parsippany
The transaction was brokered by Alan Cafiero, David Cafiero, John Moroz, and Brent Hyldahl of Marcus & Millichap. The identities of the buyer and seller were not disclosed.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$229,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33
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