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1515 Route 35, Middletown T...

TriState Capital Provides $7M Loan For Retail Property At 1515 Route 35 In Middletown
FINANCEDRetail

TriState Capital Provides $7M Loan For Retail Property At 1515 Route 35 In Middletown

1515 Route 35, Middletown Township, NJ, USA

$7,000,000

$105/SF

Building Size

66,600 SF

Asset Type

Retail

Closing

Dec 13, 2020

AI

Located at 1515 Route 35 in Middletown, this retail property recently underwent a closed transaction. The property spans an undisclosed amount of square footage and was sold for a loan amount of $7,000,000. The market value is not mentioned in the provided information.

Summary of transaction details:

The loan for this retail property was provided by TriState Capital. The brokers involved in the deal were Kathy Anderson from Progress Capital, representing the parties in the transaction.

Players

Kathy Anderson

Cushman & Wakefield

Broker

$937.3M

vol

56 deals

Broker
Progress Capital
Progress CapitalBrokerage

Middletown Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.27%

Cash-on-Cash

-0.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93