Updated Dec 21, 2023
Marcus & Millichap Sells Somerset Office Property For $7.5M
80 Cottontail Lane, Somerset, NJ 08873
$7,500,000
$84/SF
Building Size
88,312 SF
Asset Type
Office
Closing
Mar 28, 2022
About this deal
AI
The sale of an office property in Somerset has been completed at 80 Cottontail Lane. The property, with a total area of 88,312 square feet, was sold for $7,500,000, resulting in a price per square foot of $85.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $7,500,000
- Address: 80 Cottontail Lane
- Market: Somerset
The sale was facilitated by Chez Eider, Alan Cafiero, Brent Hyldahl, and Ben Sgambati from Marcus & Millichap, as well as Joseph Belgiovine from Marcus and Millichap Capital Corp.
On the Map
$7,500,000
$84/SF
Office
View full map
Players
Somerset Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit Joseph Belgiovine to view all their deals.
Browse New Jersey office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93