The Cobblers Loft, LLC Acquires Mixed-Use Property In Newton, NJ For $22.58M
SOLD
$22,580,000
New Jersey
See Similar DealsMixed-use2,160 SF
Sold 07/14/2020
SOLD
The Cobblers Loft, LLC Acquires Mixed-Use Property In Newton, NJ For $22.58M
69 Sparta Avenue, Sparta, NJ 07871
See Similar DealsMixed-use2,160 SF
Sold 07/14/2020
Summary
NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$10,453
Total Square Footage:2,160 SF
Transaction Type:Sale
The mixed-use property located at 69-75 Sparta Avenue in Newton, NJ has been sold for a total of $22,580,000. The transaction took place on 07/14/2021. The property consists of 101 units, with each unit having a price per unit (PPU) of $223,564.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $22,580,000
- Date: 07/14/2021
- Address: 69-75 Sparta Avenue, Newton, NJ
- Market: Newton, NJ
The buyer of the property is The Cobblers Loft, LLC. The sale was facilitated by Joseph Keenan and Justin Lupo, representing Kislak Company.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,204,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$80,221.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$107,040.72
Annual Debt Service$1,284,488.64
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