Mani Bakshi Acquires Retail Property In Butler, NJ For $23.5M
SOLD
$23,500,000
+ 1
New Jersey
See Similar DealsRetail29,833 SF
Sold 06/03/2022
SOLD
Mani Bakshi Acquires Retail Property In Butler, NJ For $23.5M
1510 New Jersey Highway 23, Butler, New Jersey 07405, United States
See Similar DealsRetail29,833 SF
Sold 06/03/2022
+ 1
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$787
Total Square Footage:29,833 SF
Transaction Type:Sale
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
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,253,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$83,490.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$111,401.99
Annual Debt Service$1,336,823.87
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