Updated Oct 28, 2024
Hix Snedeker Companies Acquires 10-Acre Development Site In Princeton, NJ For $3.2M
3500 U.S. 1, Princeton, NJ, USA
$3,200,000
$15/SF
Building Size
201,683 SF
Asset Type
Development Site
Closing
Oct 28, 2021
About this deal
AI
A development site located at 3500 Route 1 in Princeton, NJ has been sold for a price of $3,200,000. The site spans across 10 acres and was acquired by Hix Snedeker Companies from the seller, Dr. Greg Olsen. The transaction was facilitated by Jerry Fennelly, representing NAI Fennelly.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,200,000
- Address: 3500 Route 1, Princeton, NJ
- Market: Princeton, NJ
- Acres: 10
Jerry Fennelly, from NAI Fennelly, played a significant role as the broker in this transaction, representing the seller, Dr. Greg Olsen. Hix Snedeker Companies acted as the buyer in this deal, acquiring the development site at 3500 Route 1 in Princeton, NJ.
Players
Princeton 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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93