Updated Sep 9, 2024
Industrial Property Sold In Hackensack NJ For $1M By Marcus & Millichap's Steve Lim
174 Lodi St, Hackensack, NJ, 07601
$1,000,000
$138/SF
Building Size
7,200 SF
Asset Type
Industrial
Closing
Nov 22, 2023
About this deal
AI
The industrial property located at 174 Lodi St in Hackensack, NJ, was sold for $1 million. The 7,200-square-foot building is situated in the vibrant market of Hackensack, just 14 miles northeast of Manhattan. The property's sole tenant is a laundry services company.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,000,000.00
- Address: 174 Lodi St, Hackensack, NJ, 07601
- Market: Hackensack
Steve Lim from Marcus & Millichap played a pivotal role in the transaction as he represented both the seller, a private investor, and the buyer, who was also a private investor. The sale of the industrial property was successfully negotiated under his representation.
Players
Hackensack Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93