facebook
Traded Co logo
Submit
Daily limit: 0/10

Rose Commercial Real Estate Negotiates $3.859M Land Sale In Cherry Hill

Property Image
SOLD
$3,859,000

New Jersey

See Similar Deals
Land
Sold 01/24/2024
the dealplayerscompscontact
Property Image
SOLD

Rose Commercial Real Estate Negotiates $3.859M Land Sale In Cherry Hill

350 East Evesham Road

See Similar Deals
Land
Sold 01/24/2024
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:Land
Transaction Type:Sale

The $3.859 million land sale of Holly Ravine Farm in Cherry Hill has been negotiated by Rose Commercial Real Estate. The 26-acre estate, once a part of the former Cowtail Bar site, was facing the possibility of development as a senior living facility. However, following public outcry and collaboration between Rose Commercial Real Estate and Cherry Hill officials, the township has purchased the land for preservation as open space.

Summary of transation details

  • Property Type: Land
  • Transaction Amount: $3,859,000
  • Address: 350 East Evesham Road
  • Market: Cherry Hill
  • Broker: Jeffrey Lucas - Rose Commercial Real Estate

This successful negotiation showcases the collaboration between Rose Commercial Real Estate and Cherry Hill officials, resulting in the preservation of the 26-acre Holly Ravine Farm. The property's potential as a senior living facility was set aside, and it will now remain as open space following the public's desire for preservation.

Players

Jeffrey Lucas
Rose Commercial Real Estate
Jeffrey Lucas
3 deals$7.2M volume
BROKER

Details

SOLD
IMAGE: Jeffrey Lucas DATE: 01/24/2024 ADDRESS: 350 East Evesham Road MARKET: Cherry Hill ASSET TYPE: Land ~ ACRES: 26 BROKER: Jeffrey Lucas - Rose Commercial Real Estate (@RoseCommercialRealEstate) SALE PRICE: $3,859,000 NOTE: Rose Commercial Real Estate has negotiated the $3.859 million land sale of Holly Ravine Farm in Cherry Hill to the township for preservation as open space. The 26-acre estate, part of the former Cowtail Bar site, faced potential development as a senior living facility but will now be preserved following public outcry and collaboration between Rose Commercial Real Estate and Cherry Hill officials.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$205,813.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,710.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,293.63
Annual Debt Service$219,523.55