Redfox Capital Sells Development Site In East Orange And Newark For $2.1 Million
SOLD
$2,100,000
New Jersey
See Similar DealsDevelopment Site20,000 SF
Sold
SOLD
Redfox Capital Sells Development Site In East Orange And Newark For $2.1 Million
164 North Arlington Avenue & 597-605 Springfield Avenue
See Similar DealsDevelopment Site20,000 SF
Sold
Summary
NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$105
Total Square Footage:20000 SF
Transaction Type:Sale
The asset involved in this transaction is a development site located at 164 North Arlington Avenue & 597-605 Springfield Avenue. This property is situated in the East Orange & Newark market and was sold for $2,100,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,100,000
- Seller: Redfox Capital
- Broker: Ryan Cerqueira - The Quinas Companies
The deal was represented by Ryan Cerqueira, who served as the broker for the transaction. This transaction signifies the efforts of Redfox Capital in managing their portfolio effectively within the development sector.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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