The Kamson Corporation Acquires Retail Property In Plainfield, NJ For $8.8M
SOLD
$8,800,000
New Jersey
See Similar DealsRetail5,051 SF
Sold 11/09/2021
SOLD
The Kamson Corporation Acquires Retail Property In Plainfield, NJ For $8.8M
1462 South Ave, Plainfield, New Jersey 07062, United States
See Similar DealsRetail5,051 SF
Sold 11/09/2021
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$1,742
Total Square Footage:5,051 SF
Transaction Type:Sale
The retail property located at 1462 South Avenue in Plainfield, NJ has been sold. The property spans an area of 1.71 acres and has a total square footage of 5,051. The transaction took place on November 9, 2021, with a sale price of $8,800,000. The price per square foot for this sale was calculated at $1,742.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $8,800,000
- Address: 1462 South Avenue, Plainfield, NJ
- Market: Plainfield, NJ
- Acres: 1.71
The buyer in this transaction is The Kamson Corporation. The brokers involved in the deal were Jason Pucci and Justin Lupo from The Kislak Company Inc.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$469,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,264.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,716.49
Annual Debt Service$500,597.87
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