Valley Bank Provides $2.5M Loan For Galloway Retail Property
275 West White Horse Pike, Galloway, Pomona, NJ, USA
$2,500,000
$1,798/SF
Building Size
1,390 SF
Asset Type
Retail
Closing
Dec 14, 2020
AI
The retail property located at 275 W. White Horse Pike in Galloway has recently secured a loan. The loan was provided by Valley Bank for an amount of $2,500,000. The loan terms include a 10-year term with a 25-year schedule and a fixed interest rate of 3.56%. The loan transaction took place on December 15, 2020.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,500,000
- Address: 275 W. White Horse Pike, Galloway
- Market: Galloway
- Lender: Valley Bank
- Landlord: SWG Realty
- Broker: Michael Volpe - HighCap Group
Michael Volpe from HighCap Group represented the landlord, SWG Realty, in this loan transaction.
Players
Egg Harbor City 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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93