Lincoln Equities Group Acquires 15.25 Acres Industrial Property In Belleville For $13M
SOLD
$13,000,000
New Jersey
See Similar DealsIndustrial295,000 SF
Sold 01/21/2022
SOLD
Lincoln Equities Group Acquires 15.25 Acres Industrial Property In Belleville For $13M
681 Main Street, Belleville, New Jersey 07109, United States
See Similar DealsIndustrial295,000 SF
Sold 01/21/2022
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$44
Total Square Footage:295,000 SF
Transaction Type:Sale
The industrial property located at 681 Main St. in Belleville has recently been sold. The property spans across 15.25 acres and is situated in the Belleville market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $13,000,000
- Date: 01/21/2022
- Square Footage: 295,000
- Price per Square Foot: $44
The buyer of the property is Lincoln Equities Group, while the seller is Belleville Industrial Center Inc. The transaction was facilitated by Jason Lynch and Troy Wisse from Lee & Associates - New Jersey.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59
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