National Realty & Development Corp Refinances Hackettstown Retail Property For $16M
1885 State Route 57, Hackettstown, New Jersey 07840, United States
$16,000,000
$58/SF
Building Size
272,046 SF
Asset Type
Retail
Closing
May 26, 2022
AI
The retail property located at 1885 Route 57 in Hackettstown has been involved in a closed transaction. The property spans 272,046 square feet and is owned by National Realty & Development Corp.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $16,000,000
- Loan Type: Permanent Loan
- Loan Terms: 10-year financing, which amortizes over 30 years
Dev Morris, David Poncia, Allison Villamagna, and Andrew Stewart from Cronheim Mortgage served as brokers in this transaction, representing the buyer and seller. The loan for this transaction was $16,000,000, and it was a permanent loan with a term of 10 years, amortizing over 30 years.
Players
Hackettstown 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93