Public Storage Purchases Industrial Property On US Route 46 In Fairfield For $3.9M
SOLD
$3,900,000
New Jersey
See Similar DealsIndustrial105,405 SF
Sold 06/01/2020
SOLD
Public Storage Purchases Industrial Property On US Route 46 In Fairfield For $3.9M
213 U.S. 46, Fairfield, NJ, USA
See Similar DealsIndustrial105,405 SF
Sold 06/01/2020
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$37
Total Square Footage:105,405 SF
Transaction Type:Sale
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
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$208,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88
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