Brian Kaplan & Chip Collins Of Marcus & Millichap Sell Mixed-Use Property In Morristown, NJ For $2.5M
SOLD
$2,500,000
New Jersey
See Similar DealsMixed-use6,000 SF
Sold 08/19/2021
SOLD
Brian Kaplan & Chip Collins Of Marcus & Millichap Sell Mixed-Use Property In Morristown, NJ For $2.5M
29 Elm Street, Morristown, NJ, USA
See Similar DealsMixed-use6,000 SF
Sold 08/19/2021
Summary
NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$416
Total Square Footage:6,000 SF
Transaction Type:Sale
A mixed-use property located at 29 Elm St. in Morristown, NJ was recently sold for $2,500,000. The property spans 6,000 square feet, resulting in a price per square foot of $417.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,500,000
- Address: 29 Elm St., Morristown, NJ
- Market: Morristown, NJ
The sale of this mixed-use property was facilitated by Brian Kaplan and Chip Collins from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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