Investors Bank Refinances Retail Property In Lacey, NJ For $3.865M
404 S Main St, Lacey, New Jersey 08731, United States
$3,865,000
$264/SF
Building Size
14,600 SF
Asset Type
Retail
Closing
Jan 12, 2022
AI
Located at 404-416 S. Main Street in Lacey, NJ, this retail property spans 14,600 square feet. The property was recently involved in a loan transaction.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,865,000
- Date: 01/12/2022
- Lender: Investors Bank
- Landlord: Doherty Enterprises - Ed Doherty
- Brokers: Gabby Cali & Jack Subers – Progress Capital
The loan, provided by Investors Bank, was for a refinance of the property. The transaction was facilitated by brokers Gabby Cali and Jack Subers from Progress Capital.
Players
Forked River 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
4.10%
Cash-on-Cash
-1.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93