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RWJ Flooring Acquires Belleville Industrial Property From Ole Ole Foods For $1.95M
SOLD
$1,950,000
New Jersey
See Similar DealsIndustrial7,215 SF
Sold 02/21/2024
SOLD
RWJ Flooring Acquires Belleville Industrial Property From Ole Ole Foods For $1.95M
54 Schuyler Street
See Similar DealsIndustrial7,215 SF
Sold 02/21/2024
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$270
Total Square Footage:7,215 SF
Transaction Type:Sale
The industrial property at 54 Schuyler Street in Belleville was sold for $1,950,000 to RWJ Flooring by Ole Ole Foods. The building spans 7,215 square feet and was successfully transacted by Jordan Metz of Bussel Realty Corp.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $1,950,000
- Address: 54 Schuyler Street
- Market: Belleville
- Buyer: RWJ Flooring
- Seller: Ole Ole Foods
- Broker: Jordan Metz - Bussel Realty
- SF: 7,215
- PPSF: $270
The transaction, despite challenges like unfavorable interest rates, saw RWJ Flooring acquiring the industrial property boasting modern specifications and a strategic location near major transportation routes. It was facilitated by Jordan Metz representing Bussel Realty Corp.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$103,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,927.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,243.99
Annual Debt Service$110,927.94
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