Updated Sep 22, 2024
Marcus & Millichap Sells Retail Asset In Mount Olive Township For $1.43M
342 US Route 46
$1,430,000
$440/SF
Building Size
3,250 SF
Asset Type
Retail
Closing
Nov 22, 2023
About this deal
AI
An investor has acquired a retail property located at 342 Route 46 in Mount Olive Township, NJ. The property spans 3,250 square feet and was sold for $1,430,000. Currently, it houses a Valley National Bank branch.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,430,000.00
- Square Footage: 3,250
- Address: 342 Us-46, Mount Olive Township, NJ
- Buyer's Representative: Michael Kook - Marcus & Millichap
- Buyer: Unknown
The transaction was facilitated by Michael Kook from Marcus & Millichap's Manhattan office, who represented the buyer. The appeal of the property stemmed from its strong corporate credit, long lease term, and location within the New Jersey market.
On the Map
$1,430,000
$440/SF
Retail
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Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.09%
Cash-on-Cash
-3.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93