Filtex, LLC Acquires Industrial Property In Somerville For $4.2M
3380 US Route 22, Somerville, New Jersey 08876, United States
$4,200,000
$124/SF
Building Size
33,750 SF
Asset Type
Industrial
Closing
Mar 14, 2022
AI
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.
Players
Branchburg 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
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93