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405 Trimmer Rd, Califon, NJ...

Updated Sep 9, 2024

Dr. Henry Odunlami Purchases Califon Property At 405 Trimmer Rd With Joseph Vindigni As Seller's Rep
SOLDIndustrial

Dr. Henry Odunlami Purchases Califon Property At 405 Trimmer Rd With Joseph Vindigni As Seller's Rep

405 Trimmer Rd, Califon, NJ, 07830

Building Size

7,800 SF

Asset Type

Industrial

Closing

Nov 20, 2023

About this deal

AI

The property asset involves a 7,800-square-foot industrial flex building located at 405 Trimmer Road, Califon, NJ. The market value is within Hunterdon County, where this facility is designated for a residential addiction rehabilitation purpose. The building is situated on two lots spanning 15 acres and is partially fit-out for a 13-bed substance use disorder treatment facility, now planned for completion by the buyer.

Summary of transaction details:

  • Property Type: Industrial Flex Building
  • Transaction Amount: Undisclosed
  • Address: 405 Trimmer Rd, Califon, NJ, 07830
  • Market: Califon
  • Buyer: Dr. Henry Odunlami
  • Seller: Scenic Pastures LLC
  • Seller's Representative: Joseph Vindigni - NAI James E. Hanson
  • Approval for Additional Space: 10,500 square feet of flex space

Key individuals in this transaction include Dr. Henry Odunlami, a board-certified psychiatrist with over 20 years of experience, practicing in multiple locations including Brick and Bridgewater. Joseph Vindigni from NAI James E. Hanson represented the seller and emphasized the importance of local market knowledge in arranging this specialized property deal. The site benefits from its strategic location at the intersection of County Road 513, providing access to interstate routes.

Players

Joseph Vindigni

NAI Global

Broker

3 deals

Broker

Califon 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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