Marcus & Millichap Brokers Sell Development Site In Dunellen, New Jersey For $2.2M
520 North Avenue, Dunellen, New Jersey 08812, United States
$2,200,000
$80/SF
Building Size
27,443 SF
Asset Type
Development Site
Closing
Jun 1, 2022
AI
A development site located at 520 North Ave in Dunellen, New Jersey was recently sold for $2,200,000. The property spans 27,443 square feet and has a price per square foot of $80. The sale price per buildable square foot is $51, based on a total buildable square footage of 43,247. The transaction took place on June 2, 2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,200,000
- Address: 520 North Ave, Dunellen, New Jersey
- Market: Dunellen, New Jersey
The sale of the development site at 520 North Ave was facilitated by Chez Eider and Jason Petrick from Marcus & Millichap. They acted as the brokers in the transaction, representing the buyer and seller. The involvement of these key individuals from Marcus & Millichap showcases their expertise in successfully closing deals in the Dunellen market.
Players
Dunellen 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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93