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BRB Development LLC Acquires 3.3 Acre Development Site In Denville, NJ For $2.5M

Property Image
SOLD
$2,500,000
Matt Grundy
Jim Brunette

New Jersey

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Development Site90,000 SF
Sold 09/09/2021
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Property Image
SOLD

BRB Development LLC Acquires 3.3 Acre Development Site In Denville, NJ For $2.5M

85 U.S. 46, Denville, NJ, USA

See Similar Deals
Development Site90,000 SF
Sold 09/09/2021
Matt Grundy
Jim Brunette
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$27
Total Square Footage:90,000 SF
Transaction Type:Sale

BRB Development LLC has acquired a development site located at 85 Route 46 in Morris County, Denville, NJ for a sale price of $2,500,000. The property spans approximately 3.3 acres and offers great potential for development. The transaction took place on 09/09/2021.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $2,500,000
  • Address: 85 Route 46, Morris County, Denville, NJ
  • Market: Morris County, Denville, NJ
  • Buyer: BRB Development LLC
  • Seller: ATKA LLC
  • Buyer's Representative: Matt Grundy - Ripco Real Estate LLC
  • Seller's Representative: Jim Brunette - Brunette Realty LLC
  • BSF: 90,000

Matt Grundy from Ripco Real Estate LLC represented the buyer, BRB Development LLC, in this transaction. Jim Brunette from Brunette Realty LLC represented the seller, ATKA LLC. The deal between the two parties marks a significant milestone in the development of the property.

Players

Matt Grundy
Ripco
Matt Grundy
5 deals$4.9M volume(201) 777-2300
BROKER
Jim Brunette
Jim Brunette
1 deal$2.5M volume
BROKER

Details

SOLD
IMAGE: Matt Grundy & Jim Brunette DATE: 09/09/2021 ADDRESS: 85 Route 46 MARKET: Morris County, Denville, NJ ASSET TYPE: Development Site ~ ACRES: 3.3 BUYER: BRB Development LLC SELLER: ATKA LLC BUYER'S REP: Matt Grundy (@MattGrundyCRE) - Ripco Real Estate LLC SELLER'S REP: Jim Brunette - Brunette Realty LLC SALE PRICE: $2,500,000 BSF: 90,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$133,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31