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

Property Image
SOLD
$2,043,000

New Jersey

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Retail21,000 SF
Sold 03/10/2022
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Property Image
SOLD

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

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

See Similar Deals
Retail21,000 SF
Sold 03/10/2022
Contact now

Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$97
Total Square Footage:21,000 SF
Transaction Type:Sale

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
7 deals$11.7M volume(908) 963-9319
BROKER

Details

SOLD
IMAGE: Max Levinston DATE: 03/10/2022 ADDRESS: 128 Lincoln Blvd, 345 N. Main Street & 38 North Gaston Avenue MARKET: Middlesex, Manville & Somerville ASSET TYPE: Retail BROKER: Max Levinston (@Max_Levinston) - Kislak (@KislakCompany) SALE PRICE: $2,043,000 SF: 21,000 ~ PPSF: $97 NOTE FROM BROKER: Please see all addresses in note below. This sale includes Friendly Self Storage, a 15,000-square-foot self-storage facility with 72 units at 128 Lincoln Boulevard in Middlesex, Middlesex County, for $1,095,000; a 3,000-square-foot office building at 38 North Gaston Avenue in Somerville, Somerset County, for $480,000, and; a 3,045-square-foot corner retail building at 345 North Main Street in Manville, Somerset County, for $468,000.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$108,960.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,258.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,684.86
Annual Debt Service$116,218.35