KS Bloomfield LLC Acquires Development Site On Bloomfield Ave In Newark, NJ For $2.6M
222 Bloomfield Avenue
$2,600,000
$81/SF
Building Size
32,000 SF
Asset Type
Development Site
Closing
Oct 11, 2022
AI
A development site located at 222 Bloomfield Ave in Newark, NJ, has been sold for a total of $2,600,000. The property spans 32,000 square feet, resulting in a price per square foot of $81. The sale took place on 10/11/2022.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,600,000
- Address: 222 Bloomfield Ave, Newark, NJ
- Market: Newark, NJ
The buyer, KS Bloomfield LLC, acquired the property from the seller, NNN RX LLC. The transaction was facilitated by Ryan Cerqueira of The Quinas Companies (QCRE), who represented the buyer in this deal.
Newark Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93