Dino Tomassetti Jr. Sells Industrial Asset At 81 International Drive Budd Lake For $29.1M
SOLD
$29,100,000
New Jersey
See Similar DealsIndustrial132,000 SF
Sold 08/21/2024
SOLD
Dino Tomassetti Jr. Sells Industrial Asset At 81 International Drive Budd Lake For $29.1M
81 International Drive
See Similar DealsIndustrial132,000 SF
Sold 08/21/2024
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$220
Total Square Footage:132,000 SF
Transaction Type:Sale
The property asset involved in this transaction is located at 81 International Drive, Budd Lake. The sale price was $29,100,000 for an industrial asset encompassing 132,000 square feet, resulting in a price per square foot of $220.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $29,100,000
- Address: 81 International Drive
- Market: Budd Lake
- Square Footage: 132,000
- Price Per Square Foot: $220
- Seller: Dino Tomassetti Jr.
- Broker Representatives: Josh Chesner & Burry Klein - Branch Industrial
The deal involved broker representatives Josh Chesner and Burry Klein from Branch Industrial, who facilitated the transaction on behalf of seller Dino Tomassetti Jr.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,552,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$103,386.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$137,948.85
Annual Debt Service$1,655,386.15
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