Fusion LLC Sells Industrial Property In Somerset, NJ For $8.3M
SOLD
$8,300,000
New Jersey
See Similar DealsIndustrial55,800 SF
Sold 01/21/2022
SOLD
Fusion LLC Sells Industrial Property In Somerset, NJ For $8.3M
15 Worlds Fair Drive, Franklin, New Jersey 08873, United States
See Similar DealsIndustrial55,800 SF
Sold 01/21/2022
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$148
Total Square Footage:55,800 SF
Transaction Type:Sale
Located at 15 Worlds Fair Drive in Somerset, NJ, this industrial property was recently sold. The transaction took place on 01/21/2022, with Fusion LLC as the seller. The property spans 55,800 square feet and was sold for a price of $8,300,000, resulting in a price per square foot of $149.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $8,300,000
- Address: 15 Worlds Fair Drive, Somerset, NJ
- Market: Somerset, NJ
Leading the deal were Shawn Straka and Joseph Ratner from Cushman & Wakefield, serving as the brokers for the 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)
$442,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,488.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,346.23
Annual Debt Service$472,154.81
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