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21 Industrial Dr, New J

State Industrial Acquires Industrial Property In Keyport, NJ For $3.45M
SOLDIndustrial

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

Glenn Jaffe

Keller Williams Realty

Broker

$15.3M

vol

7 deals

Broker

Keyport Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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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