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Marcus & Millichap Sells Grocery-Anchored Shopping Center In Paulsboro For $2.5M
SOLD
$2,502,900
New Jersey
See Similar DealsRetail46,236 SF
Sold 11/07/2024
SOLD
Marcus & Millichap Sells Grocery-Anchored Shopping Center In Paulsboro For $2.5M
545 West Broad Street
See Similar DealsRetail46,236 SF
Sold 11/07/2024
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$54
Total Square Footage:46,236 SF
Transaction Type:Sale
A grocery-anchored shopping center located at 545 West Broad Street in Paulsboro sold for $2,502,900. The property spans 46,236 square feet and is anchored by Save-A-Lot and Dollar Tree, reflecting a strong market for retail assets in the area.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,502,900
- Square Footage: 46,236
- Price Per Square Foot: $54
- Market: Paulsboro
The transaction was facilitated by the brokers Alan Cafiero, Brent Hyldahl, and Seth Goldberg from Marcus & Millichap. The deal involved a buyer completing a 1031 exchange, underscoring the high demand for such retail properties in New Jersey.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,488.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,892.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,865.02
Annual Debt Service$142,380.28
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