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555 Paterson-Hamburg Turnpike

MCSS Purchases Development Site/Self Storage In Wayne From Teri & George Lightheiser For $1.1M
SOLDDevelopment Site

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

CJ Huter

VanRockCRE

Broker

$119.7M

vol

25 deals

Broker

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