MCSS Purchases Development Site/Self Storage In Wayne From Teri & George Lightheiser For $1.1M
555 Paterson-Hamburg Turnpike
$1,100,000
$7/SF
Building Size
152,000 SF
Asset Type
Development Site
Closing
Nov 25, 2024
AI
The property asset involved in this transaction is a development site for self-storage located at 555 Paterson-Hamburg Turnpike in Wayne. The sale was finalized for a total price of $1,100,000, featuring a building size of 152,000 square feet and a base square footage of 80,000. The price per base square foot is $13, while the price per square foot stands at $7.
Summary of transaction details:
- Property Type: Development Site/Self Storage
- Transaction Amount: $1,100,000
- Address: 555 Paterson-Hamburg Turnpike
- Market: Wayne
- Building Size: 152,000 SF
- Base Square Footage: 80,000 BSF
- Price per Base Square Foot: $13
- Price per Square Foot: $7
- Buyer: MCSS
- Seller: Teri & George Lightheiser
- Brokers: Lew Finkelstein & CJ Huter - The Goldstein Group
The deal was brokered by Lew Finkelstein and CJ Huter representing The Goldstein Group, who facilitated the transaction between the buyer, MCSS, and sellers, Teri & George Lightheiser.
Players
Wayne 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