Updated Dec 4, 2024
Graystone Capital Advisors Brokers $7.2M Sale Of Shopping Center In Rockaway New Jersey
279 US Route 46
$7,200,000
$210/SF
Building Size
34,177 SF
Asset Type
Retail
Closing
Aug 22, 2024
About this deal
AI
The transaction involved a retail asset located at 279 US Route 46 in Rockaway, New Jersey. The property was sold for $7,200,000 and encompasses 34,177 square feet, equating to a price per square foot of $211. The asset is anchored by Tractor Supply Co.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,200,000
- Square Footage: 34,177
- Address: 279 US Route 46
- Market: Rockaway
- Price Per Square Foot: $211
The sale was brokered by Julius Swolsky and Shannon Bona from Graystone Capital Advisors. The seller was a Southeast-based developer, and the buyer was a local institutional investor. Both parties have chosen to remain anonymous throughout the transaction.
Players
Rockaway 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
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93