Updated Oct 29, 2024
Hammonton 1 LLC Acquires Retail Property In Bellmawr For $6.5M
12 S Black Horse Pike, Bellmawr, NJ, 0...
$6,500,000
Building Size
—
Asset Type
Retail
Closing
Nov 20, 2023
About this deal
AI
A newly constructed retail property located at 12 S Black Horse Pike in Bellmawr has been sold for $6.5 million. The property is based in the Bellmawr market and is currently occupied by Royal Farms, which is set to open this month. This location represents the first New Jersey establishment for the Baltimore-based convenience and gas store company.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,500,000.00
- Seller: Mark Bellmawr LLC
- Buyer: Hammonton 1 LLC
- Seller's Representatives: Matthew Gorman - CBRE, Michael Shover - CBRE
- Buyer's Representative: Stephen Schrenk - CBRE
This transaction was facilitated through a 1031 exchange. It involved the expertise of Matthew Gorman and Michael Shover representing the seller while Stephen Schrenk of CBRE procured the buyer, demonstrating the involvement of multiple professionals in this real estate deal.
On the Map
$6,500,000
Retail
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Players
Bellmawr Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93