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Marcus & Millichap Sells North Bergen Industrial Property For $11.1 Million
SOLD
$11,100,000
New Jersey
See Similar DealsIndustrial
Sold 05/17/2023
SOLD
Marcus & Millichap Sells North Bergen Industrial Property For $11.1 Million
125 Broad Ave, North Bergen, NJ 07047
See Similar DealsIndustrial
Sold 05/17/2023
Summary
NEW JERSEY
Asset Type:Industrial
Transaction Type:Sale
Marcus & Millichap has sold a three-building industrial property in North Bergen for $11.1 million. The property is located at 125 Broad Avenue and is situated on 2.86 acres of land. This attractive investment opportunity features 21 units, two loading docks, and a ceiling height of 26 feet. The high demand for small-bay flex/warehouses in the area resulted in multiple competitive bids for the property.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $11,100,000
- Address: 125 Broad Avenue
- Market: North Bergen
- Acres: 2.86
The transaction was facilitated by Mark Gjonbalaj, Alan Cafiero, and Giacomo Fiorenza of Marcus & Millichap. These brokers represented the seller in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$592,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,435.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,619.66
Annual Debt Service$631,435.96
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