Updated Oct 28, 2024
Public Storage Purchases Industrial Property On US Route 46 In Fairfield For $3.9M
213 U.S. 46, Fairfield, NJ, USA
$3,900,000
$37/SF
Building Size
105,405 SF
Asset Type
Industrial
Closing
Jun 1, 2020
About this deal
AI
An industrial property located at 213 & 225 US Route 46 in Fairfield has recently been sold for a total of $3,900,000. The property spans 105,405 square feet and is situated on 5 acres of land. It was sold at a price per square foot of $37, with each acre valued at $780,000. The transaction took place on June 1, 2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $3,900,000
- Square Footage: 105,405
- Price Per Square Foot: $37
- Acres: 5
- Price Per Acre: $780,000
- Address: 213 & 225 US Route 46, Fairfield
- Market: Fairfield
The buyer of the property is Public Storage, while the seller is Pratt Street Capital. The deal was facilitated by brokers Marc Duval and Jordan Avanzato from JLL.
Players
Fairfield 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
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93