Updated Dec 4, 2024
Ridgecut Road Acquires Industrial Property In South Plainfield, NJ For $12.5M
250 Mack Place
$12,475,000
$959/SF
Building Size
13,000 SF
Asset Type
Industrial
Closing
Jan 26, 2024
About this deal
AI
The industrial property located at 250 Mack Place in South Plainfield, NJ has been sold in a recent transaction. The property spans 13,000 square feet and was sold for a price of $12,475,000, resulting in a price per square foot of $960. The sale took place on January 26, 2024.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12,475,000
- Address: 250 Mack Place, South Plainfield, NJ
- Market: South Plainfield, NJ
Ridgecut Road, represented by Scott and Eric Shalek, along with Marcus Partners, acquired the property from McGrath Corp. The brokers involved in the deal were Isaac R. Setton, Bunny Escava, and Richard Ades from KSR. They facilitated the successful transaction between the buyer and the seller.
On the Map
$12,475,000
$959/SF
Industrial
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Players
South Plainfield 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
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93