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1460 NJ-70, Cherry Hill NJ ...

NADG NNN Acquires Retail Property In Cherry Hill, NJ For $2.3M
SOLDRetail

NADG NNN Acquires Retail Property In Cherry Hill, NJ For $2.3M

1460 NJ-70, Cherry Hill NJ 08034

$2,300,000

$920/SF

Building Size

2,500 SF

Asset Type

Retail

Closing

Dec 17, 2021

AI

A retail property located at 1460 NJ 70 in Cherry Hill, NJ has been sold in a transaction that closed on December 17, 2021. The property was purchased by NADG NNN, while the seller was Conwell Limited Partnership. The sale was facilitated by brokers JP Colussi and Jesse Dubrow from MSC.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,300,000
  • Address: 1460 NJ 70, Cherry Hill, NJ
  • Market: Cherry Hill, NJ

The retail property spans approximately 2,500 square feet and was sold at a price of $2,300,000, resulting in a price per square foot of $920.

NADG NNN, the buyer in this transaction, acquired the property from Conwell Limited Partnership. The deal was facilitated by brokers JP Colussi and Jesse Dubrow from MSC.

Players

JP Colussi

Institutional Property Advisors

Broker

$244.5M

vol

10 deals

Broker

Cherry Hill 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

6.90%

Cash-on-Cash

-1.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93