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
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