Aspen Real Estate Acquires Retail Property In Vineland, NJ For $9.6M Loan
301 S Main Rd, Vineland, NJ 08361, USA
$9,600,000
$68/SF
Building Size
140,000 SF
Asset Type
Retail
Closing
Sep 20, 2021
AI
The retail property located at 301 South Main Road in Vineland, NJ has been involved in a recent transaction. This property spans across 140,000 square feet and is owned by Aspen Real Estate.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,600,000
- Loan Type: Acquisition
- Loan Terms: fixed-rate loan with a five-year term and a 25-year amortization schedule
- Brokers: Andrew Stewart & David Poncia from Cronheim Mortgage
The loan amount for this acquisition was $9,600,000. It was secured through a fixed-rate loan with a five-year term and a 25-year amortization schedule.
The brokers involved in this transaction were Andrew Stewart and David Poncia from Cronheim Mortgage. They represented the buyer in securing the loan for the acquisition.
Players
Vineland 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
1.65%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93