Joseph Smouha Acquires Industrial Property In Totowa, NJ For $7.6M
SOLD
$7,600,000
New Jersey
See Similar DealsIndustrial69,200 SF
Sold 09/28/2022
SOLD
Joseph Smouha Acquires Industrial Property In Totowa, NJ For $7.6M
601 Union Boulevard
See Similar DealsIndustrial69,200 SF
Sold 09/28/2022
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$109
Total Square Footage:69,200 SF
Transaction Type:Sale
Jonathan De La Rosa of Marcus & Millichap facilitated the sale of an industrial property located at 601 Union Blvd in Totowa, NJ. The property, spanning 69,200 square feet, was sold for $7,600,000 at a price per square foot of $110.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $7,600,000
- Address: 601 Union Blvd, Totowa, NJ
- Market: Totowa, NJ
Joseph Smouha purchased the property from Keith Diamond. Jonathan De La Rosa from Marcus & Millichap represented both parties as the broker in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$405,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,001.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,027.88
Annual Debt Service$432,334.53
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