Faropoint Acquires Industrial Property In Oakland For $9.6M
SOLD
$9,600,000
+ 6
New Jersey
See Similar DealsIndustrial44,300 SF
Sold 07/13/2022
SOLD
Faropoint Acquires Industrial Property In Oakland For $9.6M
153 Bauer Drive, Oakland, New Jersey 07436, United States
See Similar DealsIndustrial44,300 SF
Sold 07/13/2022
+ 6
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$216
Total Square Footage:44,300 SF
Transaction Type:Sale
The industrial property located at 153 Bauer Drive in Oakland has been sold for a transaction amount of $9,600,000. The property spans an area of 44,300 square feet, resulting in a price per square foot of $217. The sale took place on 07/13/2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $9,600,000
- Address: 153 Bauer Drive, Oakland
- Market: Oakland
The buyer in this transaction is Faropoint, represented by Orry Michael. The seller is Oakland Management. The deal was facilitated by the following brokers from CBRE: Elli Klapper, Jeremy Wernick, Mark Silverman, Charles Berger, Mark Trevisan, Kevin Dudley, Nick Klacik, and Chad Hillyer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$511,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,106.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,508.90
Annual Debt Service$546,106.77
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