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White Star Logistics Acquires Office Building In Matawan For $7.6M

Property Image
SOLD
$7,600,000

New Jersey

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Office46 SF
Sold 02/02/2023
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Property Image
SOLD

White Star Logistics Acquires Office Building In Matawan For $7.6M

14 Cliffwood Avenue, Matawan, New Jersey 07747, United States

See Similar Deals
Office46 SF
Sold 02/02/2023
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Office
Price Per Square Foot:$165,217
Total Square Footage:46 SF
Transaction Type:Sale

An office property located at 14 Cliffwood Ave in Matawan has been sold for $7,600,000. The property spans an area of 46,000 square feet, resulting in a price per square foot of $165. The sale took place on 02/02/2023 and the transaction was facilitated by David Zimmel of Zimmel Associates, representing the buyer, White Star Logistics, and the seller, Denholtz Properties.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $7,600,000
  • Address: 14 Cliffwood Ave
  • Market: Matawan
  • Square Footage: 46,000
  • Price per Square Foot: $165
  • Buyer: White Star Logistics
  • Seller: Denholtz Properties
  • Broker: David Zimmel - Zimmel Associates

David Zimmel from Zimmel Associates played a crucial role as the broker representing both the buyer, White Star Logistics, and the seller, Denholtz Properties, in this transaction.

Players

David Zimmel
Zimmel Associates
David Zimmel
15 deals$181.4M volume
BROKER
Denholtz Properties
Denholtz Properties
SELLER

Details

SOLD
IMAGE: David Zimmel DATE: 02/02/2023 ADDRESS: 14 Cliffwood Ave MARKET: Matawan ASSET TYPE: Office BUYER: White Star Logistics SELLER: Denholtz Properties (@DenholtzProperties) BROKER: David Zimmel - Zimmel Associates (@ZimmelAssociates) SALE PRICE: $7,600,000 SF: 46,000 ~ PPSF: $165

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$405,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$27,001.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,027.88
Annual Debt Service$432,334.53