Penwood Real Estate Acquires Industrial Property In Moonachie For $31.25M
SOLD
$31,250,000
New Jersey
See Similar DealsIndustrial96 SF
Sold 01/11/2023
SOLD
Penwood Real Estate Acquires Industrial Property In Moonachie For $31.25M
1 Caesar Place, Moonachie, New Jersey 07074, United States
See Similar DealsIndustrial96 SF
Sold 01/11/2023
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$325,520
Total Square Footage:96 SF
Transaction Type:Sale
An industrial property located at 1 Caesar Place in Moonachie has been sold for a price of $31,250,000. The property covers an area of approximately 4.2 acres and has a total square footage of 96,583. The sale was completed on January 11, 2023. The property was purchased by Penwood Real Estate Investment Management, with Andrew MacDonald representing the buyer. The transaction was facilitated by brokers Jim McNerney and John D'Amato from McBride Corporate Real Estate.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $31,250,000
- Address: 1 Caesar Place, Moonachie
- Market: Moonachie
- Acres: 4.2
- Square Footage: 96,583
Jim McNerney and John D'Amato from McBride Corporate Real Estate served as the brokers in this deal, representing the buyer Penwood Real Estate Investment Management. They played a crucial role in ensuring the successful completion of the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,666,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$111,024.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$148,140.94
Annual Debt Service$1,777,691.32
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