Filtex, LLC Acquires Industrial Property In Somerville For $4.2M
SOLD
$4,200,000
New Jersey
See Similar DealsIndustrial33,750 SF
Sold 03/15/2022
SOLD
Filtex, LLC Acquires Industrial Property In Somerville For $4.2M
3380 US Route 22, Somerville, New Jersey 08876, United States
See Similar DealsIndustrial33,750 SF
Sold 03/15/2022
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$124
Total Square Footage:33,750 SF
Transaction Type:Sale
An industrial property located at 3380 US-22 in Somerville has been sold in a transaction that closed on 03/15/2022. The property, totaling 33,750 square feet, was sold by Crown Real Estate Holdings, LLC to Filtex, LLC for a sale price of $4,200,000. The property is situated in the Somerville market and is characterized as an industrial asset.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $4,200,000
- Square Footage: 33,750
- Address: 3380 US-22, Somerville
- Market: Somerville
Mark Hay of KW Commercial represented Filtex, LLC as their broker in this sale transaction.
This transaction was a sale-leaseback, as indicated by the note from the broker.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$223,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,921.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,910.14
Annual Debt Service$238,921.71
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