Seagis Property Group Acquires Industrial Property In Metuchen For $24M
SOLD
$24,000,000
New Jersey
See Similar DealsIndustrial158,641 SF
Sold 06/28/2022
SOLD
Seagis Property Group Acquires Industrial Property In Metuchen For $24M
60 Leonard Street, Metuchen, New Jersey 08840, United States
See Similar DealsIndustrial158,641 SF
Sold 06/28/2022
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$151
Total Square Footage:158,641 SF
Transaction Type:Sale
The industrial property located at 60 Leonard St in Metuchen has been sold in a transaction that closed on June 28, 2022. The property spans across 6.92 acres and is classified as an industrial asset. The sale price for this property was $24,000,000, resulting in a price per square foot of $151. The total square footage of the property is 158,641.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $24,000,000
- Address: 60 Leonard St, Metuchen
- Market: Metuchen
- Acreage: 6.92
The buyer in this transaction was Seagis Property Group, represented by Tyler Baker. The seller was P&V Warehouse Distribution. The broker involved in the deal was Steve Bussel from Bussel Realty Corp.
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)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
Is there something missing? Send suggestions