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Pillar Plaza LLC Acquires Office Property At 80 Cottontail Lane In Somerset For $4.5M
SOLD
$4,500,000
New Jersey
See Similar DealsOffice84,325 SF
Sold 08/26/2025
SOLD
Pillar Plaza LLC Acquires Office Property At 80 Cottontail Lane In Somerset For $4.5M
80 Cottontail Lane
See Similar DealsOffice84,325 SF
Sold 08/26/2025
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$53
Total Square Footage:84,325 SF
Transaction Type:Sale
Pillar Plaza LLC purchased 80 Cottontail Lane, an office property located in Somerset, featuring a substantial size of 84,325 square feet for a price of $4,500,000. The property was sold at a price per square foot of $53.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,500,000
- Address: 80 Cottontail Lane
- Market: Somerset
- Square Footage: 84,325
- Price Per Square Foot: $53
- Buyer: Pillar Plaza LLC
- Broker: Gregory Irving - Bussel Realty
Gregory Irving represented Pillar Plaza LLC in the transaction and was appointed as the exclusive leasing agent for the property, which has units ranging from 3,000 to 10,000 square feet currently available.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$240,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55
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