Daily limit: 0/10
Western Building Co. Acquires Smithville Square Retail Property In Galloway For $13.7M
SOLD
$13,700,000
+ 2
New Jersey
See Similar DealsRetail106,931 SF
Sold 08/26/2024
SOLD
Western Building Co. Acquires Smithville Square Retail Property In Galloway For $13.7M
45 New York Road
See Similar DealsRetail106,931 SF
Sold 08/26/2024
+ 2
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$128
Total Square Footage:106,931 SF
Transaction Type:Sale
Smithville Square, a retail property located at 45 South New York Road in Galloway, encompasses 106,931 square feet and spans 26 acres. The asset was sold for $13,700,000, reflecting a price per square foot of $128.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $13,700,000
- Market: Galloway
- Buyer: Western Building Co.
- Seller: Harvey Rosenblatt - P3 Properties
- Brokers: Andre Balthazard, Daniel Bottiglieri, Frank DiTomasso, Jordan Sobel & Max Helfman - Cushman & Wakefield
- Acres: 26
- SF: 106,931
- PPSF: $128
Cushman & Wakefield represented the seller, P3 Properties, which achieved a significant increase in occupancy from 55% to 97% through redevelopment efforts.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$730,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$48,673.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$64,944.99
Annual Debt Service$779,339.87
Is there something missing? Send suggestions