Contract Leasing Corp. Acquires 26 Acres Industrial Property In Piscataway For $10.5M
SOLD
$10,500,000
New Jersey
See Similar DealsIndustrial1,132,560 SF
Sold 10/06/2021
SOLD
Contract Leasing Corp. Acquires 26 Acres Industrial Property In Piscataway For $10.5M
28 Howard Street, Piscataway, NJ, USA
See Similar DealsIndustrial1,132,560 SF
Sold 10/06/2021
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$9
Total Square Footage:1,132,560 SF
Transaction Type:Sale
Located at 28 Howard St. in Piscataway, this industrial property spans 26 acres. The property was recently sold on 10/06/2021.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $10,500,000
- Address: 28 Howard St., Piscataway
- Market: Piscataway
- Square Footage: Not specified
Contract Leasing Corp. purchased this industrial property for a total of $10,500,000. The deal was facilitated by Chris Galiano from NAI DiLeo-Bram & Co.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$559,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,304.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,775.36
Annual Debt Service$597,304.28
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