Updated Oct 28, 2024
First Commerce Bank Provides $7.07M Acquisition Loan For Retail Property At 454 NJ-28 In Bridgewater, NJ - Brad Domenico & Eddie Miro Represent Progress Capital
454 NJ-28, Bridgewater Township, NJ 08807, USA
$7,070,000
$134/SF
Building Size
52,600 SF
Asset Type
Retail
Closing
Sep 18, 2022
About this deal
AI
A retail property located at 454 NJ-28 in Bridgewater, NJ has been acquired in a recent transaction. The property spans a total of 52,600 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,070,000
- Address: 454 NJ-28, Bridgewater, NJ
- Market: Bridgewater, NJ
- Lender: First Commerce Bank
- Landlord: Paul Fine - Woodcrest Properties
- Brokers: Brad Domenico & Eddie Miro - Progress Capital
The acquisition was financed through a loan provided by First Commerce Bank. Brad Domenico and Eddie Miro from Progress Capital represented the buyer in this deal.
Players
Bridgewater 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
2.24%
Cash-on-Cash
-0.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93