Shanghai Optics Acquires North Plainfield Office Building For $1.43M
1100 Route 22 North Plainfield, New Jersey 07060, Usa
$1,430,000
$113/SF
Building Size
12,605 SF
Asset Type
Office
Closing
Jun 13, 2023
AI
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
New Jersey Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.09%
Cash-on-Cash
-3.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93