Ridgecut Road Acquires Industrial Property In South Plainfield, NJ For $12.5M
SOLD
$12,475,000
New Jersey
See Similar DealsIndustrial13,000 SF
Sold
SOLD
Ridgecut Road Acquires Industrial Property In South Plainfield, NJ For $12.5M
250 Mack Place
See Similar DealsIndustrial13,000 SF
Sold
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$959
Total Square Footage:13000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$665,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,321.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,137.86
Annual Debt Service$709,654.37
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