Jonathan Glick & Matthew Leonelli Sell 10.3k SF Mixed-Use Property In Howell For $2.9M
400 Okerson Rd Freehold, NJ 07728, USA
$2,900,000
$281/SF
Building Size
10,300 SF
Asset Type
Mixed-use
Closing
May 25, 2023
AI
A 10,300-square-foot office and warehouse structure located at 400 Okerson Road in Howell has been sold for $2.9 million. The property, situated on 2.75 acres of land, is now serving as a contractor's operating base. Its convenient location and combination of industrial space and existing offices make it highly desirable in Monmouth County.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,900,000
- Address: 400 Okerson Road
- Market: Howell
- Acreage: 2.75
The sale was facilitated by Jonathan Glick & Matthew Leonelli of Sheldon Gross Realty. As the property's brokers, they played a crucial role in ensuring a successful transaction.
Players
Freehold Township 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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93