Updated Dec 19, 2023
Compass New Jersey LLC Acquires Development Site In Harding Twp. For $1.5M
42 Red Gate Rd, Morristown, Harding Township, NJ, USA
$1,500,000
$6/SF
Building Size
225,205 SF
Asset Type
Development Site
Closing
Feb 18, 2021
About this deal
AI
A development site located at 42 Red Gate Rd in Harding Twp. was recently sold for $1,500,000. The property spans across 5.17 acres, resulting in a price per acre (PPA) of approximately $290,135.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $1,500,000
- Address: 42 Red Gate Rd
- Market: Harding Twp.
- Acres: 5.17
- PPA: $290,135
The sale was facilitated by Susan & Zander Oldendorp of Compass New Jersey LLC. They represented both the buyer and the seller in this transaction.
Players
Morristown Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Visit Compass to view all their deals.
Browse New Jersey development site sales on Traded.
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