Bhorat Naik Acquires Hotel In Edison, NJ For $2.33M
SOLD
$2,330,000
New Jersey
See Similar DealsHotel
Sold 04/25/2022
SOLD
Bhorat Naik Acquires Hotel In Edison, NJ For $2.33M
610 US Route 1, Edison, New Jersey 08817, United States
See Similar DealsHotel
Sold 04/25/2022
Summary
NEW JERSEY
Asset Type:Hotel
Transaction Type:Sale
The sale of a Hotel/Motel/Hostel/B&B property located at 610 United States Rt 1 in Edison, NJ took place on April 25, 2022. The transaction involved a purchase price of $2,330,000. The buyer, Bhorat Naik, acquired the property from the seller, Kundan Patel.
Summary of transaction details:
- Property Type: Hotel/Motel/Hostel/B&B
- Transaction Amount: $2,330,000
- Address: 610 United States Rt 1, Edison, NJ
- Market: Edison, NJ
Bhorat Naik acted as the buyer in this transaction, while Kundan Patel represented the seller. The sale of this property marks an important milestone in the real estate market of Edison, NJ.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$124,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,277.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,045.39
Annual Debt Service$132,544.66
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