New Generation Day Care Acquires Retail Property In East Hanover For $3.1M
SOLD
$3,100,000
New Jersey
See Similar DealsRetail11,800 SF
Sold 09/02/2022
SOLD
New Generation Day Care Acquires Retail Property In East Hanover For $3.1M
60 River Road, East Hanover, New Jersey 07936, United States
See Similar DealsRetail11,800 SF
Sold 09/02/2022
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$262
Total Square Footage:11,800 SF
Transaction Type:Sale
A retail property located at 60 River Rd in East Hanover has been sold for $3,100,000. The property spans 11,800 square feet, resulting in a price per square foot of $263. The transaction took place on September 2, 2022.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,100,000
- Address: 60 River Rd, East Hanover
- Market: East Hanover
The buyer of the property was New Generation Day Care, and the seller was Sixty River Rd LLC. The deal was facilitated by Roman Drukarov from Berkshire Hathaway HomeServices.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$165,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98
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