NAI Mertz Brokers $26M Industrial Sale Of 405 Heron Dr. In Logan Township, NJ
SOLD
$26,000,000
New Jersey
See Similar DealsIndustrial254,220 SF
Sold 08/19/2021
SOLD
NAI Mertz Brokers $26M Industrial Sale Of 405 Heron Dr. In Logan Township, NJ
405 Heron Drive, Logan Township, NJ, USA
See Similar DealsIndustrial254,220 SF
Sold 08/19/2021
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$102
Total Square Footage:254,220 SF
Transaction Type:Sale
Located at 405 Heron Drive in Logan Township, NJ, this industrial property was recently sold in a closed transaction. The deal was facilitated by Scott Mertz of NAI Mertz.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $26,000,000
- Square Footage: 254,220
- Price per Square Foot: $102
The property at 405 Heron Drive offers a sizable industrial space spanning 254,220 square feet. The sale price for this transaction amounted to $26,000,000, resulting in a price per square foot of $102. Scott Mertz of NAI Mertz played a key role in facilitating the deal, bringing together the buyer and the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,386,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$92,372.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$123,253.26
Annual Debt Service$1,479,039.17
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