Marcus & Millichap Sells Development Site In Jackson, NJ For $2.7M
SOLD
$2,700,000
New Jersey
See Similar DealsDevelopment Site304,920 SF
Sold
SOLD
Marcus & Millichap Sells Development Site In Jackson, NJ For $2.7M
680 Bennetts Mills Road, Jackson, NJ 08527, USA
See Similar DealsDevelopment Site304,920 SF
Sold
Summary
NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$8
Total Square Footage:304,920 SF
Transaction Type:Sale
An 7-acre development site located at 680 Bennetts Mills Road in Jackson, NJ has been sold for a price of $2,700,000. The sale transaction took place on September 15, 2021. The property is a development site, offering potential for future construction and expansion.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,700,000
- Address: 680 Bennetts Mills Road
- Market: Jackson, NJ
- Size: 7 acres
The sale was facilitated by Alan Cafiero, Ben Sgambati, and David Cafiero from Marcus & Millichap. They represented the buyer and seller in this transaction, providing brokerage services to ensure a successful deal.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$144,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53
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