Louis Critelli Of Engel & Völkers-Critelli Properties Sells 25.46 Acres Land In Manalapan For $1M
$1,000,000
Building Size
—
Asset Type
Land
Closing
Jul 19, 2024
AI
A 25.46-acre land parcel located at 00 Gravel Hill Road in Manalapan has been sold for $1,000,000. Previously functioning as a dairy farm, this land is suitable for estate, agricultural, or development purposes and has preliminary engineering for 4-5 potential buildable lots.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $1,000,000
- Address: 00 Gravel Hill Road
- Market: Manalapan
- Broker: Louis Critelli - Engel & Völkers-Critelli Properties
The transaction was led by broker Louis Critelli representing Engel & Völkers-Critelli Properties. The property’s prospective uses include development options, indicated by the preliminary engineering available for multiple lots.
Players
Market Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93