Updated Oct 28, 2024
408 Central Ave LLC Acquires Industrial Property In University Heights, Newark NJ For $3,150,000
408-416 Central Avenue, University Heights, Newark, NJ, USA
$3,150,000
$82/SF
Building Size
38,000 SF
Asset Type
Industrial
Closing
Nov 5, 2021
About this deal
AI
The industrial property located at 408-416 Central Avenue in University Heights, Newark NJ has been sold in a recent transaction. The property spans an area of 38,000 square feet. The sale price for the property was $3,150,000, resulting in a price per square foot of $83.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,150,000
- Date: 11/05/2021
- Address: 408-416 Central Avenue, University Heights, Newark NJ
- Market: University Heights, Newark NJ
The buyer, 408 Central Ave LLC, acquired the property from the seller, 408 Central Ave Trust. The deal was facilitated by Ryan Cerqueira from Quinas Real Estate, who represented the buyer in the transaction.
Newark 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
5.04%
Cash-on-Cash
-1.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93