Ben Meshel & Jeff Meshel Purchase Medical Office At 235 Chelten Avenue In Philadelphia For $2.615M
SOLD
$2,615,000
Pennsylvania
See Similar DealsOffice15,289 SF
Sold 01/15/2025
SOLD
Ben Meshel & Jeff Meshel Purchase Medical Office At 235 Chelten Avenue In Philadelphia For $2.615M
235 Chelten Avenue
See Similar DealsOffice15,289 SF
Sold 01/15/2025
Summary
PENNSYLVANIA
Asset Type:Office
Price Per Square Foot:$171
Total Square Footage:15,289 SF
Transaction Type:Sale
The property asset involved in this transaction is a medical office located at 235 Chelten Avenue in the Philadelphia market. It was sold for $2,615,000, featuring a total square footage of 15,289 and a price per square foot of $171.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $2,615,000
- Address: 235 Chelten Avenue
- Market: Philadelphia
- Square Footage: 15,289
- Price per Square Foot: $171
- Buyer: Ben Meshel & Jeff Meshel
- Seller: Preet Sabharwal & Joe Ricciuti - OBC Wissahickon
- Broker: Jonathan Peranich - Peranich Huffman Net Lease Group
The deal was facilitated by Jonathan Peranich representing the broker group involved in the transaction. The buyers, Ben Meshel and Jeff Meshel, acquired the property from sellers Preet Sabharwal and Joe Ricciuti, who are associated with OBC Wissahickon.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$139,466.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,290.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,396.43
Annual Debt Service$148,757.21
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