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KPE II LLC Acquires Plainsboro Plaza Retail Center For $42.2M
SOLD
$42,200,000
New Jersey
See Similar DealsRetail218,718 SF
Sold 04/04/2024
SOLD
KPE II LLC Acquires Plainsboro Plaza Retail Center For $42.2M
10 Schalks Crossing Road
See Similar DealsRetail218,718 SF
Sold 04/04/2024
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$192
Total Square Footage:218,718 SF
Transaction Type:Sale
The Plainsboro Plaza, a significant retail center located at 10 Schalks Crossing Road in Plainsboro, New Jersey, has been sold for $42.2 million. The property spans 218,718 square feet and was acquired by KPE II LLC from Onyx Equities. The asset features prominent tenants such as CVS and SuperFresh.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $42,200,000
- Buyer: KPE II LLC
- Seller: John Saraceno, Jr. - Onyx Equities
- Address: 10 Schalks Crossing Road
- Market: Plainsboro
- Square Footage: 218,718
John Saraceno, Jr. was the seller, representing Onyx Equities in the transaction. On the buyer's side, KPE II LLC was assisted by their representative.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,250,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$149,927.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$200,049.53
Annual Debt Service$2,400,594.35
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