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860 Springfield Road

Catherine Goski-Vasquez & Richard Goski Of NAI DiLeo-Bram Co. Broker $6M Sale Of Industrial Building In Union Township
SOLDIndustrial

Catherine Goski-Vasquez & Richard Goski Of NAI DiLeo-Bram Co. Broker $6M Sale Of Industrial Building In Union Township

860 Springfield Road

$6,000,000

$250/SF

Building Size

24,000 SF

Asset Type

Industrial

Closing

May 13, 2025

AI

An industrial building located at 860 Springfield Road in Union Township has been sold for $6,000,000. The asset encompasses 24,000 square feet and has a price per square foot of $250. The transaction occurred in a market characterized by a strong demand for small industrial assets within New Jersey.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $6,000,000
  • Square Footage: 24,000
  • Price per Square Foot: $250
  • Address: 860 Springfield Road
  • Market: Union Township

The transaction was brokered by Catherine Goski-Vasquez and Richard Goski of NAI DiLeo-Bram & Co. The buyer, represented by the same brokers, is a growing floor-coating distributor attracted to the property's strategic access to major highways and ports.

Players

Richard Goski

NAI Global

Broker

$26.6M

vol

8 deals

Broker

Union 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

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93