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2 Lakeview Avenue

Keith Rosenthal Of Phoenix Realty Group Acquires Industrial Property In Piscataway For $2.85M
SOLDIndustrial

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

Gregory Irving

Bussel Realty

Broker

$38.1M

vol

7 deals

Broker

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