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Marcus & Millichap Sells Industrial & Self-Storage Facility In West Caldwell For $19.2M

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SOLD
$19,200,000

New Jersey

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SOLD

Marcus & Millichap Sells Industrial & Self-Storage Facility In West Caldwell For $19.2M

670 Passaic Ave, West Caldwell, NJ, 0...

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Summary

NEW JERSEY
Transaction Type:Sale

The property involved in the transaction is located at 670 Passaic Ave, West Caldwell, NJ. This industrial and self-storage facility encompasses a total of 108,000 square feet, comprising 67,000 square feet of industrial space and 41,000 square feet of self-storage space, distributed across 760 units. The sale was executed for a total amount of $19,200,000.00, situated in the West Caldwell market.

Summary of transaction details:

  • Property Type: Industrial and self-storage facility
  • Transaction Amount: $19,200,000.00
  • Address: 670 Passaic Ave, West Caldwell, NJ
  • Buyer: Unknown
  • Seller: Tulfra Real Estate
  • Buyer's Representative: Nicholas Bocchi-Marcus & Millichap

The transaction was coordinated by the brokerage firm Marcus & Millichap, with Alan Cafiero and Ben Sgambati also involved in representing the seller, a private investor. The identities of both the buyer and seller were kept anonymous throughout the process.

Players

NB
1 deal$19.2M volume
BROKER

SELLER

Details

SOLD
IMAGE: 670 Passaic Ave, West Caldwell, NJ, 0... MARKET: West Caldwell BUYER'S REP: Nicholas Bocchi-Marcus & Millichap BUYER: Unknown SELLER: Tulfra Real Estate PRICE: $19,200,000.00

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,024,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$68,213.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$91,017.80
Annual Debt Service$1,092,213.54