Updated Dec 21, 2023
Marcus & Millichap Sells Mixed-use Property In Somerville, NJ For $3M
1 West Main Street, Somerville, NJ, USA
$3,000,000
$264/SF
Building Size
11,350 SF
Asset Type
Mixed-use
Closing
Aug 23, 2020
About this deal
AI
A mixed-use property located at 1 West Main St in Somerville, NJ has been sold for a price of $3,000,000. The property spans 11,350 square feet, resulting in a price per square foot of $364.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,000,000
- Address: 1 West Main St, Somerville, NJ
- Market: Somerville, NJ
The transaction was facilitated by the team of Alan Cafiero, Brent Hyldahl, and Ben Sgambati from Marcus & Millichap. They represented the buyer and seller in the deal.
Players
Somerville Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93