South Avenue Holdings Acquires Industrial Building In Scotch Plains For $1.26M
801 Jerusalem Road
$1,260,000
Building Size
—
Asset Type
Industrial
Closing
Jan 10, 2024
AI
Bussel Realty Corp facilitated the sale of a 5,600 sq ft industrial building in Scotch Plains. The property is located at 801 Jerusalem Road and was acquired by South Avenue Holdings for $1.26 million. The strategic location of the building near major routes and the Garden State Parkway was a key factor in the acquisition.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,260,000
- Address: 801 Jerusalem Road
- Market: Scotch Plains
Jeffrey Goldfinger from Bussel Realty represented the seller, 801 Jerusalem Road LLC, in this transaction.
Players
Scotch Plains Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.59%
Cash-on-Cash
-3.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93