Updated Oct 29, 2024
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
About this deal
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.
On the Map
$1,430,000
$113/SF
Office
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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