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Point West Realty Acquires Industrial Property In Dover, NJ For $12.75M

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SOLD
$12,750,000

New Jersey

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Industrial65,000 SF
Sold 09/12/2022
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Property Image
SOLD

Point West Realty Acquires Industrial Property In Dover, NJ For $12.75M

126 East Dickerson Street, Dover, New Jersey 07801, United States

See Similar Deals
Industrial65,000 SF
Sold 09/12/2022
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$196
Total Square Footage:65,000 SF
Transaction Type:Sale

The industrial property located at 126 E. Dickerson St. in Dover, NJ has been sold. The transaction took place on September 12, 2022, and the sale was facilitated by Michael Fromowitz, Aron Fulop, and Joseph Lax representing Point West Realty and Best Care Realty Inc. respectively. The property spans 65,000 square feet and was sold for a total price of $12,750,000, equivalent to $196 per square foot.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $12,750,000
  • Address: 126 E. Dickerson St., Dover, NJ
  • Market: Dover, NJ
  • Buyer's Representative: Michael Fromowitz & Aron Fulop - Point West Realty
  • Note from Broker: Point West Realty is one of the most active players in the industrial real estate market in the Tri-state area, having transacted over $250 million in industrial assets alone in '21-'22.

The involvement of Point West Realty, along with the representatives from Best Care Realty Inc., reflects their extensive experience and expertise in the industrial real estate market. Their ability to navigate market volatility and consistently deliver results positions them as top players in the field.

Players

4 deals$31.2M volume
BROKER

Details

SOLD
IMAGE: Michael Fromowitz DATE: 09/12/2022 ADDRESS: 126 E. Dickerson St. MARKET: Dover, NJ ASSET TYPE: Industrial BUYER’S REP: Michael Fromowitz (@MichaelFromo) & Aron Fulop - Point West Realty (@Point_West_Realty) & Joseph Lax - Best Care Realty Inc. SALE PRICE: $12,750,000 SF: 65,000 ~ PPSF: $196 NOTE FROM BROKER: @Point_west_Realty is one of most active players in the Industrial real estate market in the Tri-state area. Having transected north of $250 million in '21-'22 in industrial asset type alone, we have earned our spot among the top. We will help you stay relevant even in todays market volatility.

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Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$45,298.06
Cash-on-Cash Return-1.27%
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