NAI James E. Hanson Represents RET Industrial In $9.6M Sale Of New Brunswick Industrial Property On Jersey Ave
SOLD
$9,625,000
New Jersey
See Similar DealsIndustrial41,000 SF
Sold 07/15/2022
SOLD
NAI James E. Hanson Represents RET Industrial In $9.6M Sale Of New Brunswick Industrial Property On Jersey Ave
703 Jersey Avenue
See Similar DealsIndustrial41,000 SF
Sold 07/15/2022
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$234
Total Square Footage:41,000 SF
Transaction Type:Sale
The industrial property located at 703 Jersey Ave in New Brunswick has been sold. The property spans 41,000 square feet and was sold for a total price of $9,625,000, resulting in a price per square foot of $235. The transaction took place on 07/15/2022. The property is situated in the New Brunswick market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $9,625,000
- Square Footage: 41,000
- Price per Square Foot: $235
- Address: 703 Jersey Ave, New Brunswick
- Date: 07/15/2022
The seller of the property was RET Industrial, represented by Jack Edelstein and Yochi Twersky. The sale was facilitated by brokers Russell Verducci and Eric Demmers from NAI James E. Hanson.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$513,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,195.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,627.41
Annual Debt Service$547,528.93
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