Updated Dec 4, 2024
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
About this deal
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.
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