Updated Oct 29, 2024
Terreno Realty Corporation Sells Industrial Property In Somerset, NJ For $25M
70 Schoolhouse Road, Somerset, New Jersey 08873, United States
$25,000,000
$290,697/SF
Building Size
86 SF
Asset Type
Industrial
Closing
Nov 17, 2022
About this deal
AI
The industrial property located at 70 Schoolhouse Road in Somerset, NJ has been sold. This property spans across 6.9 acres and features a total of 86,000 square feet of space. The sale took place on November 17, 2022.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $25,000,000
- Price per Square Foot: $291
The property was sold by Terreno Realty Corporation, with Blake Baird representing the company in the transaction. The sale price for the property was $25,000,000, resulting in a price per square foot of $291.
Somerset 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93