Keith Rosenthal Of Phoenix Realty Group Acquires Industrial Property In Piscataway For $2.85M
2 Lakeview Avenue
$2,850,000
$111/SF
Building Size
25,500 SF
Asset Type
Industrial
Closing
Jan 8, 2025
AI
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.
Players
Piscataway 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
5.57%
Cash-on-Cash
-1.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93