SOLDDevelopment Site
Private Investor Acquires 1.6 Acre Development Site In Wayne From Tozzo Route 46 LLC For $1.1M
461 Us Route 46
$1,100,000
Building Size
—
Asset Type
Development Site
Closing
Sep 24, 2025
AI
A 1.6-acre development site located at 461 Route 46 in Wayne was sold. The site was purchased for a total of $1,100,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,100,000
- Address: 461 Route 46
- Market: Wayne
- Seller: Tozzo Route 46 LLC
- Broker: Marta Villa - CBRE
Marta Villa of CBRE represented the seller, Tozzo Route 46 LLC, in the transaction and was also responsible for procuring the buyer, a private investor.
Players
CBREBrokerage
Fairfield 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
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93