Updated Dec 3, 2024
Terreno Realty Corp Acquires 2.4 Acres Of Land In Newark For $11.9M
127 Doremus Avenue, Newark, New Jersey 07105, United States
$11,900,000
Building Size
—
Asset Type
—
Closing
May 22, 2022
About this deal
AI
The 2.4-acre land located at 127-167 & 147-163 Doremus Ave in Newark has been sold for a staggering $11,900,000. The transaction took place on May 23, 2022, with Terreno Realty Corp emerging as the buyer. This property is a noteworthy addition to Terreno Realty Corp's portfolio.
Summary of transation details
- Property Type: Land
- Transaction Amount: $11,900,000
- Market: Newark
- Address: 127-167 & 147-163 Doremus Ave
- Asset Type: Land
- Acreage: 2.4 acres
The deal was facilitated by W. Blake Baird, the representative of Terreno Realty Corp. The successful acquisition of this prime land further strengthens Terreno Realty Corp's position in the real estate market.
Players
Newark CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.33%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93