Franklin Park Retail Property Sells For $56M With Broker Isaiah Harf - Stan Johnson Co
SOLD
$56,000,000
New Jersey
See Similar DealsRetail138,000 SF
Sold
SOLD
Franklin Park Retail Property Sells For $56M With Broker Isaiah Harf - Stan Johnson Co
3391 State Route 27, Princeton, New Jersey 08540, United States
See Similar DealsRetail138,000 SF
Sold
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$405
Total Square Footage:138,000 SF
Transaction Type:Sale
The retail property located at 3391 State Route 27 in Franklin Park has been recently sold for a total of $56,000,000. The transaction took place on 07/12/2022 and was facilitated by Isaiah Harf from the real estate agency Stan Johnson Co. The property spans 138,000 square feet, resulting in a price per square foot of $406.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $56,000,000
- Date: 07/12/2022
- Address: 3391 State Route 27
- Market: Franklin Park
- Broker: Isaiah Harf - Stan Johnson Co.
- Square Footage: 138,000
- Price per Square Foot: $406
Isaiah Harf, representing Stan Johnson Co., played a pivotal role in the successful completion of the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,986,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$198,956.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$265,468.57
Annual Debt Service$3,185,622.84
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