Westwood Investments LLC Acquires Industrial Property In Franklin Lakes For $3.8M
550 Commerce Street, Franklin Lakes, New Jersey 07417, United States
$3,800,000
$214/SF
Building Size
17,752 SF
Asset Type
Industrial
Closing
May 24, 2022
AI
The industrial property located at 550 Commerce St in Franklin Lakes has been sold for a price of $3,800,000. The property spans a total area of 17,752 square feet, resulting in a price per square foot of $214. The transaction took place on May 25, 2022.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $3,800,000
- Address: 550 Commerce St, Franklin Lakes
- Square Footage: 17,752
- Price per Square Foot: $214
- Market: Franklin Lakes
The buyer of the property is Westwood Investments LLC. The deal was facilitated by Douglas Rowe from Lee & Associates New Jersey.
Players
Franklin Lakes 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
4.17%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93