State Industrial Acquires Industrial Property In Keyport, NJ For $3.45M
21 Industrial Dr, New J
$3,450,000
$164/SF
Building Size
21,000 SF
Asset Type
Industrial
Closing
Sep 23, 2022
AI
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.
Players
Keyport Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.60%
Cash-on-Cash
-1.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93