Updated Sep 5, 2024
Mani Bakshi Acquires Retail Property In Butler, NJ For $23.5M
1510 New Jersey Highway 23, Butler, New Jersey 07405, United States
$23,500,000
$787/SF
Building Size
29,833 SF
Asset Type
Retail
Closing
Jun 2, 2022
About this deal
AI
Located at 1510 NJ-23 in Butler, NJ, this retail property has been sold in a recent transaction. The property spans across 30,000 square feet and was sold for a price of $23,500,000, resulting in a price per square foot of $783.
Summary of Transaction Details:
- Property Type: Retail
- Date: 06/03/2022
- Market: Butler, NJ
- Buyer: Mani Bakshi
- Seller: Joseph Bijou
- Brokers: Raj Whadwa - Global Realty Services & Alan Cafiero - Marcus & Millichap
- Square Footage: 30,000
- Sale Price: $23,500,000
- Price Per Square Foot: $783
The transaction was facilitated by Raj Whadwa from Global Realty Services and Alan Cafiero from Marcus & Millichap. They represented the buyer and seller, respectively, in this deal.
Players
Butler 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
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93