83 Spring St - Professional Condos - 9% CAP at ASK 3,000 - 6,500 SF Office Condo Units Offered at $351,000 - $1,064,000 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
| Price | $351,000 - $1,064,000 |
| Unit Size | 3,000 - 6,500 SF |
| No. Units | 3 |
| Total Building Size | 66,900 SF |
| Property Type | Office |
| Building Class | B |
| Floors | 3 |
| Typical Floor Size | 22,300 SF |
| Year Built | 1985 |
| Lot Size | 1.87 AC |
| Parking Ratio | 0.1/1,000 SF |
3 UNITS AVAILABLE
Unit 101
| Unit Size | 4,500 SF |
| Price | $435,000 |
| Price Per SF | $96.67 |
| Condo Use | Office |
| Sale Type | Investment |
| Cap Rate | 5.12% |
| NOI | $22,272 |
Unit 302
| Unit Size | 3,000 SF |
| Price | $351,000 |
| Price Per SF | $117.00 |
| Condo Use | Office |
| Sale Type | Investment |
| Cap Rate | 8.27% |
| NOI | $29,027.70 |
Unit 303
| Unit Size | 6,500 SF |
| Price | $1,064,000 |
| Price Per SF | $163.69 |
| Condo Use | Office |
| Sale Type | Investment |
| Cap Rate | 9.92% |
| NOI | $105,548.80 |
1 of 1
Walk Score®
Very Walkable (86)
AMENITIES
- Natural Light
ZONING
| Zoning Code | C-2 |
