Updated Sep 9, 2024
Marcus & Millichap Sells Church Lane Plaza Retail Property In North Brunswick Township For $4.45M
2224 US-130 North Brunswick Township, NJ 08902, USA
$4,450,000
$211/SF
Building Size
21,080 SF
Asset Type
Retail
Closing
May 30, 2023
About this deal
AI
Marcus & Millichap has sold Church Lane Plaza, a retail property located at 2224 US-130 in North Brunswick Township, New Jersey. This property spans approximately 2.94 acres and features 21,080 square feet of retail space. The sale price for Church Lane Plaza was $4,450,000, resulting in a price per square foot of $211. Situated on a major retail corridor, the property attracted strong investor demand due to its high traffic counts. The retail tenants at Church Lane Plaza operate on triple net leases and offer a mix of service-based businesses.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,450,000
- Square Footage: 21,080
- Address: 2224 US-130, North Brunswick Township, NJ
- Market: North Brunswick Township
Brent Hyldahl and Alan Cafiero from the brokerage firm Marcus & Millichap represented the buyer and seller in this transaction. Their involvement in the deal contributed to the successful sale of Church Lane Plaza in North Brunswick Township.
Players
North Brunswick 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
3.56%
Cash-on-Cash
-1.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93