OM Life Space LLC Purchases Retail Condo At Plainsboro Village Center For $1.23M With Matthew Fennelly And Gregg Medvin As Brokers
5 Schalks Crossing Road
$1,230,000
$254/SF
Building Size
4,839 SF
Asset Type
Retail
Closing
Aug 9, 2024
AI
A 4,839-square-foot retail condo located at 5 Schalks Crossing Road in Plainsboro was sold for $1,230,000. This asset belongs to the retail sector, highlighting its presence in the Plainsboro Village Center market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,230,000
- Sale Date: 08/09/2024
- Buyer's Name: OM Life Space LLC
- Seller's Name: Sharbell Cranbury
- Buyer's Representative: Matthew Fennelly - Fennelly Associates
- Seller's Representative: Gregg Medvin - Pierson Commercial Real Estate
- Price Per Square Foot: $254
The deal was facilitated by Fennelly Associates, which represents the buyer, OM Life Space LLC, intending to establish a wellness studio at the retail condo. Pierson Commercial Real Estate represented the seller, Sharbell Cranbury, in the transaction.
Players
Plainsboro 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
12.90%
Cash-on-Cash
-3.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93