Centerpoint Properties Sells Retail Asset In Linden NJ For $3.5 Million With JLL Brokers
SOLD
$3,500,000
New Jersey
See Similar DealsRetail13,000 SF
Sold 10/17/2024
SOLD
Centerpoint Properties Sells Retail Asset In Linden NJ For $3.5 Million With JLL Brokers
1601 East Edgar Road
See Similar DealsRetail13,000 SF
Sold 10/17/2024
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$269
Total Square Footage:13,000 SF
Transaction Type:Sale
The property asset involved in this transaction is located at 1601 West Edgar Road in Linden, NJ. This retail asset has a total square footage of 13,000 and was sold for $3,500,000, resulting in a price per square foot of $269.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,500,000
- Address: 1601 West Edgar Road
- Market: Linden, NJ
- Asset Size: 13,000 SF
- Price Per Square Foot: $269
- Seller: Centerpoint Properties
- Brokers: David Townes & Alana Friedman - JLL
This transaction featured David Townes and Alana Friedman as representatives for the broker agency JLL, acting on behalf of the seller, Centerpoint Properties. Their involvement was crucial in facilitating the sale of the retail asset.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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