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Shanghai Optics Acquires North Plainfield Office Building For $1.43M

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SOLD
$1,430,000

New Jersey

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Office12,605 SF
Sold
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SOLD

Shanghai Optics Acquires North Plainfield Office Building For $1.43M

1100 Route 22 North Plainfield, New Jersey 07060, Usa

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Office12,605 SF
Sold
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Summary

NEW JERSEY
Asset Type:Office
Price Per Square Foot:$113
Total Square Footage:12,605 SF
Transaction Type:Sale

Sheldon Gross Realty recently sold an office building in North Plainfield to Shanghai Optics for $1.43 million. The property, located at 1100 Route 22, is an office asset with a total square footage of 12,605. The sale price per square foot was $113. The transaction took place on June 13, 2023.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $1,430,000
  • Address: 1100 Route 22
  • Market: North Plainfield
  • Buyer: Shanghai Optics
  • Buyer's Representative: Coldwell Banker Realty
  • Seller's Representative: Jonathan Glick & Matthew Leonelli - Sheldon Gross Realty
  • Square Footage: 12,605
  • Price Per Square Foot: $113

The North Plainfield office building was an ideal fit for Shanghai Optics, meeting their specific needs and offering convenient access to highways and metropolitan areas.

Players

12 deals$11.7M volume
BROKER

Jonathan Glick
8 deals$10M volume
BROKER

Details

SOLD
IMAGE: Jonathan Glick & Matthew Leonelli DATE: 06/13/2023 ADDRESS: 1100 Route 22 MARKET: North Plainfield ASSET TYPE: Office BUYER: Shanghai Optics (@Shanghai_Optics) BUYER'S REP: Coldwell Banker Realty (@ColdwellBanker) SELLER'S REP: Jonathan Glick & Matthew Leonelli - Sheldon Gross Realty (@SheldonGrossRealty) SALE PRICE: $1,430,000 SF: 12,605 ~ PPSF: $113 NOTE: Sheldon Gross Realty sold a North Plainfield office building to Shanghai Optics for $1.43 million. The facility met the buyer's needs and provided convenient access to highways and metropolitan areas.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,080.48
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