Updated Oct 28, 2024
Agree Central LLC Acquires Development Site In East Hanover For $16.55M
280 New Jersey 10, East Hanover, NJ, USA
$16,550,000
$2,043/SF
Building Size
8,100 SF
Asset Type
Development Site
Closing
Mar 8, 2021
About this deal
AI
An $16,550,000 development site located at 280 Route 10 in East Hanover has been sold. The property spans 8,100 square feet and was acquired by Agree Central LLC. The purchase price equates to a price per buildable square foot of $2,043.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $16,550,000
- Address: 280 Route 10
- Market: East Hanover
- Buyer: Agree Central LLC
- BSF: 8,100
- PPBSF: $2,043
The sale of the development site was facilitated by Agree Central LLC's representative.
Players
East Hanover 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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93