Hoboken Grace Community Church Acquires Retail Property In Hoboken For $13M
SOLD
$13,000,000
New Jersey
See Similar DealsRetail20,000 SF
Sold 03/10/2022
SOLD
Hoboken Grace Community Church Acquires Retail Property In Hoboken For $13M
409 Fourteenth St, Hoboken, New Jersey 07030, United States
See Similar DealsRetail20,000 SF
Sold 03/10/2022
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$650
Total Square Footage:20,000 SF
Transaction Type:Sale
Hoboken Grace Community Church has purchased a retail property located at 409 14th Road in Hoboken. The property, spanning 20,000 square feet, was sold by Hoboken Theaters for a total of $13,000,000, resulting in a price per square foot of $650.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $13,000,000
- Address: 409 14th Road
- Market: Hoboken
The buyer was represented by Jon Compitello and Dan Spero from JLL, while Jonathan Greenberg from Katz & Associates acted as the seller's representative in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59
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