Marcus & Millichap Sells 31.4K SF Industrial Building In Newark, NJ For $6M With Legacy Commercial Realty's Seth Katz
175 Mount Pleasant Avenue, Newark, New Jersey 07104, United States
$6,000,000
$193,548/SF
Building Size
31 SF
Asset Type
Industrial
Closing
Aug 11, 2022
AI
Located in Newark, NJ, 175 Mount Pleasant Avenue recently sold for a price of $6,000,000. This industrial property spans 31,429 square feet, resulting in a price per square foot of $191. The transaction was handled by Jed Matricaria and Scott Geller from Marcus & Millichap, along with Seth Katz from Legacy Commercial Realty, LLC.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $6,000,000
- Address: 175 Mount Pleasant Avenue
- Market: Newark, NJ
- Square Footage: 31,429
- Price Per Square Foot: $191
Marcus & Millichap, a renowned commercial real estate brokerage firm, facilitated the sale of this industrial property. Jed Matricaria and Scott Geller, investment specialists from Marcus & Millichap's New Jersey office, were exclusively responsible for listing and marketing the property on behalf of the seller. The buyer, on the other hand, was represented by Seth Katz from Legacy Commercial Realty, LLC. The transaction demonstrates the successful collaboration between these professionals in closing the deal for 175 Mount Pleasant Avenue.
Players
Newark Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93