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228 New Jersey Highway 17

Jon Cohen Brokers $1.5M Sale Of Car Dealership Development Site In Upper Saddle River
SOLDDevelopment Site

Jon Cohen Brokers $1.5M Sale Of Car Dealership Development Site In Upper Saddle River

228 New Jersey Highway 17

$1,500,000

$200/SF

Building Size

7,500 SF

Asset Type

Development Site

Closing

May 16, 2024

AI

The Car Dealership Development Site located at 228 Route 17 in Upper Saddle River, with a total area of 7,500 square feet and spanning 1.74 acres, was sold for $1,500,000 at a price per square foot of $200.

Summary of transaction details:

  • Property Type: Car Dealership Development Site
  • Transaction Amount: $1,500,000
  • Address: 228 Route 17
  • Market: Upper Saddle River
  • BROKER: Jon Cohen - Skyline Real Estate Partners
  • SF: 7,500
  • ACRES: 1.74

The transaction was facilitated by Jon Cohen from Skyline Real Estate Partners, representing the parties involved in the deal.

Players

Jon Cohen

Skyline Real Estate Partners

Broker

$10M

vol

6 deals

Broker

Saddle River 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

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93