State Industrial Acquires Industrial Property In Keyport, NJ For $3.45M
SOLD
$3,450,000
National
See Similar DealsIndustrial21,000 SF
Sold 09/23/2022
SOLD
State Industrial Acquires Industrial Property In Keyport, NJ For $3.45M
21 Industrial Dr, New J
See Similar DealsIndustrial21,000 SF
Sold 09/23/2022
Summary
Asset Type:Industrial
Price Per Square Foot:$164
Total Square Footage:21,000 SF
Transaction Type:Sale
State Industrial has acquired an industrial property located at 21 Industrial Dr in Keyport, NJ. The property, spanning 21,000 square feet, was sold by Friedland Brothers for a total price of $3,450,000, resulting in a price per square foot of $164.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $3,450,000
- Square Footage: 21,000
- Price per Square Foot: $164
- Address: 21 Industrial Dr, Keyport, NJ
- Market: Keyport, NJ
The buyer, State Industrial, acquired the property from the seller, Friedland Brothers. The deal was facilitated by Glenn Jaffe from KW Commercial and Jonathan Glick from Sheldon Gross Realty, who represented the respective parties in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$184,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,257.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,354.76
Annual Debt Service$196,257.12
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