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128 Lincoln Boulevard, Midd...

Kislak Acquires Retail Property In Middlesex, Manville, And Somerville For $2.04M
SOLDRetail

Kislak Acquires Retail Property In Middlesex, Manville, And Somerville For $2.04M

128 Lincoln Boulevard, Middlesex, New Jersey 08846, United States

$2,043,000

$97/SF

Building Size

21,000 SF

Asset Type

Retail

Closing

Mar 9, 2022

AI

An 21,000-square-foot retail property located at 128 Lincoln Blvd, 345 N. Main Street, and 38 North Gaston Avenue has been sold in Middlesex, Manville, and Somerville. The property was sold for a total of $2,043,000, with a price per square foot of $97.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,043,000
  • Address: 128 Lincoln Blvd, 345 N. Main Street, 38 North Gaston Avenue
  • Market: Middlesex, Manville, Somerville

The sale was brokered by Max Levinston from Kislak. The deal included the following properties: Friendly Self Storage, a 15,000-square-foot self-storage facility with 72 units at 128 Lincoln Boulevard in Middlesex, Middlesex County, which was sold for $1,095,000; a 3,000-square-foot office building at 38 North Gaston Avenue in Somerville, Somerset County, which was sold for $480,000; and a 3,045-square-foot corner retail building at 345 North Main Street in Manville, Somerset County, which was sold for $468,000.

Players

Max Levinston

Kislak

Broker

$11.7M

vol

7 deals

Broker

Middlesex Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.76%

Cash-on-Cash

-2.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93