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83 Spring St - Professional Condos - 9% CAP at ASK 3,000 - 6,500 sq ft Office Units Offered at £262,429 - £795,510 Per Unit in Newton, NJ 07860
EXECUTIVE SUMMARY
Three (3) professional condominiums with long term tenants including Medical/Local Government. Excellent condition. Blended cap rate of 7.82% at asking price.
PROPERTY FACTS
| Total Property Size | 66,900 sq ft | Typical Floor Size | 22,300 sq ft |
| Property Type | Office | Year Built | 1985 |
| Costar Property Class | B | Total Plot Size | 1.87 ac |
| Floors | 3 | Parking Allocation | 0.1/1,000 sq ft |
| Use Class | C-2 | ||
| Total Property Size | 66,900 sq ft |
| Property Type | Office |
| Costar Property Class | B |
| Floors | 3 |
| Typical Floor Size | 22,300 sq ft |
| Year Built | 1985 |
| Total Plot Size | 1.87 ac |
| Parking Allocation | 0.1/1,000 sq ft |
| Use Class | C-2 |
AMENITIES
- Natural Light
3 UNITS AVAILABLE
Unit 101
| Unit Size | 4,500 sq ft | Sale Type | Investment |
| Price | £325,232 | Net Initial Yield | 5.12% |
| Price Per sq ft | £72.27 | NOI | £16,651.88 |
| Unit Use | Office |
| Unit Size | 4,500 sq ft |
| Price | £325,232 |
| Price Per sq ft | £72.27 |
| Unit Use | Office |
| Sale Type | Investment |
| Net Initial Yield | 5.12% |
| NOI | £16,651.88 |
Unit 302
| Unit Size | 3,000 sq ft | Sale Type | Investment |
| Price | £262,429 | Net Initial Yield | 8.27% |
| Price Per sq ft | £87.48 | NOI | £21,702.85 |
| Unit Use | Office |
| Unit Size | 3,000 sq ft |
| Price | £262,429 |
| Price Per sq ft | £87.48 |
| Unit Use | Office |
| Sale Type | Investment |
| Net Initial Yield | 8.27% |
| NOI | £21,702.85 |
Unit 303
| Unit Size | 6,500 sq ft | Sale Type | Investment |
| Price | £795,510 | Net Initial Yield | 9.92% |
| Price Per sq ft | £122.39 | NOI | £78,914.61 |
| Unit Use | Office |
| Unit Size | 6,500 sq ft |
| Price | £795,510 |
| Price Per sq ft | £122.39 |
| Unit Use | Office |
| Sale Type | Investment |
| Net Initial Yield | 9.92% |
| NOI | £78,914.61 |
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Walk Score®
Easily Walkable (88)
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83 Spring St - Professional Condos - 9% CAP at ASK
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