Updated Oct 29, 2024
FMCD Realty LP Sells Retail Property In Clinton For $6.18M With Brent Hyldahl & Alan Cafiero - Marcus & Millichap
37 Old Highway 22, Clinton, New Jersey 08827, United States
$6,180,000
$236/SF
Building Size
26,176 SF
Asset Type
Retail
Closing
Feb 27, 2023
About this deal
AI
The property involved in this transaction is a retail asset located at 37 Old Highway 22 in Clinton. It sits on 2.4 acres of land and spans a total of 26,176 square feet. The property was sold for a price of $6,180,000, resulting in a price per square foot of $236. The transaction took place on February 27, 2023.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,180,000
- Address: 37 Old Highway 22, Clinton
- Market: Clinton
- Size: 2.4 acres
- Square Footage: 26,176
The seller in this transaction was FMCD Realty LP. The brokers representing the deal were Brent Hyldahl and Alan Cafiero from Marcus & Millichap.
It is noteworthy that this transaction highlights the demand and value of retail properties in the Clinton market. The price per square foot of $236 indicates a strong market for this type of asset.
Players
Clinton 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
2.57%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93