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

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SOLD
$1,100,000

New Jersey

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Development Site152,000 SF
Sold 11/25/2024
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SOLD

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

555 Paterson-Hamburg Turnpike

See Similar Deals
Development Site152,000 SF
Sold 11/25/2024
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Summary

NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$7
Total Square Footage:152,000 SF
Transaction Type:Sale

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
25 deals$119.7M volume(201) 888-8129
BROKER

Lew Finkelstein
31 deals$125.9M volume(201) 704-2743
BROKER

Details

SOLD
IMAGE: Lew Finkelstein & CJ Huter DATE: 11/25/2024 ADDRESS: 555 Paterson-Hamburg Turnpike MARKET: Wayne ASSET TYPE: Development Site/Self Storage BUYER: MCSS SELLER: Teri & George Lightheiser BROKERS: Lew Finkelstein (@LewFinkelstein) & CJ Huter (@CjHuter) - The Goldstein Group SALE PRICE: $1,100,000 BSF: 80,000 ~ PPBSF: $13 SF: 152,000 ~ PPSF: $7

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
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