Sri Nivas Acquires Retail Property In Edison For $11M
SOLD
$11,000,000
New Jersey
See Similar DealsIndustrial96,000 SF
Sold 04/28/2023
SOLD
Sri Nivas Acquires Retail Property In Edison For $11M
1001 US-1 Avenel, NJ 07001, USA
See Similar DealsIndustrial96,000 SF
Sold 04/28/2023
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$114
Total Square Footage:96,000 SF
Transaction Type:Sale
The retail property located at 1001 US Route 1 in Edison has been sold for $11,000,000. The property spans across 96,000 square feet with a price per square foot of $115. The transaction took place on 04/28/2023.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $11,000,000
- Address: 1001 US Route 1
- Market: Edison
- Size: 96,000 square feet
- Price per Square Foot: $115
Sri Nivas is the buyer of the property, while Jimmy Choi acted as the seller. Raj Whadwa from Global Reality Services represented both parties as the broker in this transaction.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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