Updated Oct 29, 2024
Marcus & Millichap Sells Industrial & Self-Storage Facility In West Caldwell For $19.2M
670 Passaic Ave, West Caldwell, NJ, 0...
$19,200,000
Units
760
Asset Type
—
Closing
Nov 22, 2023
About this deal
AI
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.
On the Map
$19,200,000
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Players
West Caldwell CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93