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Sale · Land

Updated Dec 4, 2024

Louis Critelli Of Engel & Völkers-Critelli Properties Sells 25.46 Acres Land In Manalapan For $1M
SOLDLand

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

About this deal

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

Louis Critelli

Engel & Völkers

Broker

$1M

vol

1 deal

Broker

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

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