Scott Shalek & Eric Shalek Acquire Industrial Property In South Plainfield, NJ For $11.5M
SOLD
$11,475,000
+ 2
New Jersey
See Similar DealsIndustrial392 SF
Sold 04/28/2023
SOLD
Scott Shalek & Eric Shalek Acquire Industrial Property In South Plainfield, NJ For $11.5M
456 Hollywood Avenue
See Similar DealsIndustrial392 SF
Sold 04/28/2023
+ 2
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$29,273
Total Square Footage:392 SF
Transaction Type:Sale
The industrial property located at 456 Hollywood Avenue in South Plainfield, NJ has been sold. The property spans across 3.92 acres and was sold for a price of $11,475,000, resulting in a price per acre of $2,927,296. The transaction took place on April 28, 2023.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: $11,475,000
- Address: 456 Hollywood Avenue, South Plainfield, NJ
- Market: South Plainfield, NJ
- Acre: 3.92
- Price per Acre: $2,927,296
In this deal, Scott Shalek & Eric Shalek, represented by Ridgecut Road and Marcus Partners, respectively, acted as the buyers. The sellers were Sky Hy Erectors & Equipment. The sale was facilitated by brokers David Warren, Shaya Nisnevitz, and Bunny Escava from KSR.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$612,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,768.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,397.35
Annual Debt Service$652,768.25
Is there something missing? Send suggestions