Westwood Investments LLC Acquires Industrial Property In Franklin Lakes For $3.8M
SOLD
$3,800,000
New Jersey
See Similar DealsIndustrial17,752 SF
Sold 05/25/2022
SOLD
Westwood Investments LLC Acquires Industrial Property In Franklin Lakes For $3.8M
550 Commerce Street, Franklin Lakes, New Jersey 07417, United States
See Similar DealsIndustrial17,752 SF
Sold 05/25/2022
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$214
Total Square Footage:17,752 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$202,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,500.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,013.94
Annual Debt Service$216,167.26
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