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Standard Supply Co Inc Sells Industrial Property In Tinton Falls, NJ For $5.5M With Buyer's Rep Zev Steinmetz & Seller's Rep John Shibles

Property Image
SOLD
$5,500,000
John Shibles
Zev Steinmetz

New Jersey

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Industrial76,000 SF
Sold 10/07/2021
the dealplayerscompscontact
Property Image
SOLD

Standard Supply Co Inc Sells Industrial Property In Tinton Falls, NJ For $5.5M With Buyer's Rep Zev Steinmetz & Seller's Rep John Shibles

41 Shark River Road, Tinton Falls, NJ, USA

See Similar Deals
Industrial76,000 SF
Sold 10/07/2021
John Shibles
Zev Steinmetz
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$72
Total Square Footage:76,000 SF
Transaction Type:Sale

The industrial property located at 41 Shark River Rd in Tinton Falls, NJ has been sold. The property spans 76,000 square feet and was listed with an asking price of $5,500,000. The sale was completed on 10/07/2021 at the same price.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $5,500,000
  • Address: 41 Shark River Rd, Tinton Falls, NJ
  • Market: Tinton Falls, NJ
  • Square Footage: 76,000
  • Price per Square Foot: $66

The seller of the property was Standard Supply Co Inc. Zev Steinmetz from Gramercy Real Estate represented the buyer as their agent, while John Shibles from Sitar Realty Company represented the seller as their agent.

Players

Zev Steinmetz
William Raveis Real Estate
Zev Steinmetz
5 deals$26.5M volume
BROKER
John Shibles
John Shibles
1 deal$5.5M volume
BROKER

Details

SOLD
IMAGE: Zev Steinmetz & John Shibles DATE: 10/07/2021 ADDRESS: 41 Shark River Rd MARKET: Tinton Falls, NJ ASSET TYPE: Industrial SELLER: Standard Supply Co Inc BUYER'S REP: Zev Steinmetz - Gramercy Real Estate SELLER'S REP: John Shibles - Sitar Realty Company ASKING PRICE: $5,500,000 SALE PRICE: $5,500,000 SF: 76,000 ~ PPSF: $66

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67