DMI Acquires 9,772 SF Office Building In Hamilton Square For $2.3M
2291 New Jersey Highway 33
$2,300,000
$235/SF
Building Size
9,772 SF
Asset Type
Office
Closing
Jan 5, 2024
AI
A 9,772-square-foot office building located at 2291 New Jersey Highway 33 in Hamilton Square has been sold for $2.3 million. The property is situated in a prime location in the Hamilton Square market.
Summary of transation details
- Property Type: Office
- Transaction Amount: $2,300,000
- Square Footage: 9,772
- Price per Square Foot: $235
- Buyer: DMI
- Brokers: Jerry Fennelly - Fennelly Associates; Keyser
The buyer, DMI, is the longest-running cooperative warehouse group in the U.S. They sought the office space to complement their recently leased 845,078-square-foot warehouse in Trenton, allowing for efficient cross-docking and storage capabilities. This acquisition will support DMI's significant company growth.
Trenton Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93