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Keith Rosenthal Of Phoenix Realty Group Acquires Industrial Property In Piscataway For $2.85M
SOLD
$2,850,000
New Jersey
See Similar DealsIndustrial25,500 SF
Sold 01/08/2025
SOLD
Keith Rosenthal Of Phoenix Realty Group Acquires Industrial Property In Piscataway For $2.85M
2 Lakeview Avenue
See Similar DealsIndustrial25,500 SF
Sold 01/08/2025
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$111
Total Square Footage:25,500 SF
Transaction Type:Sale
Keith Rosenthal, representing Phoenix Realty Group, acquired an industrial building located at 2 Lakeview Avenue in Piscataway for a transaction amount of $2,850,000. This property spans 25,500 square feet and features multiple tenants along with over an acre of paved parking.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,850,000
- Square Footage: 25,500
- Address: 2 Lakeview Avenue
- Market: Piscataway
- Seller: Harris Camden Realty
- Broker: Gregory Irving - Bussel Realty Corp
- Price Per Square Foot: $112
Gregory Irving of Bussel Realty Corp facilitated the transaction, representing the seller, Harris Camden Realty, through the negotiation and completion of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$151,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,125.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,510.45
Annual Debt Service$162,125.45
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