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:
- Property Type: Retail
- Transaction Amount: $7,000,000
- Lender: TriState Capital
- Brokers: Kathy Anderson - Progress Capital
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
Middletown Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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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