Marcus & Millichap Brokers $2.1M Office Sale In Scranton, PA
SOLD
$2,100,000
Pennsylvania
See Similar DealsOffice38,054 SF
Sold 06/28/2020
SOLD
Marcus & Millichap Brokers $2.1M Office Sale In Scranton, PA
430 Penn Avenue, Scranton, PA, USA
See Similar DealsOffice38,054 SF
Sold 06/28/2020
Summary
PENNSYLVANIA
Asset Type:Office
Price Per Square Foot:$55
Total Square Footage:38,054 SF
Transaction Type:Sale
The office property located at 430 Penn Ave in Scranton, PA has been sold for a transaction amount of $2,100,000. The sale took place on June 28, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $2,100,000
- Square Footage: 38,054
- Price per Square Foot: $55
- Capitalization Rate: 6.82%
- Market: Scranton, PA
The sale was facilitated by Craig Dunkle and Jackson Day from Marcus & Millichap. They served as the brokers representing the parties involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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