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Sam Ash Properties Corporation Sells Retail Center In Edison For $5.5 Million
SOLD
$5,500,000
New Jersey
See Similar DealsRetail21,929 SF
Sold 09/09/2024
SOLD
Sam Ash Properties Corporation Sells Retail Center In Edison For $5.5 Million
1825 Lincoln Highway
See Similar DealsRetail21,929 SF
Sold 09/09/2024
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$250
Total Square Footage:21,929 SF
Transaction Type:Sale
The property involved in the transaction is a retail center located at 1825 State Route 27, Edison, New Jersey. This asset encompasses 21,929 square feet and is situated on 1.29 acres of land, with a sale price of $5,500,000, resulting in a price per square foot of $251.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,500,000
- Address: 1825 State Route 27
- Market: Edison
- Asset Size: 21,929 SF
- Price per Square Foot: $251
- Seller: Sam Ash Properties Corporation
- Broker Representatives: Marc Shein & Robert V. DiLeo - NAI DiLeo-Bram & Co.
Marc Shein and Robert V. DiLeo of NAI DiLeo-Bram & Co. represented Sam Ash Properties Corporation in this transaction. The buyer, identified as an out-of-state grocer, intends to establish the property as a flagship location, benefiting from its prime corner placement and high-traffic area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$293,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67
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