New Generation Day Care Acquires Retail Property In East Hanover For $3.1M
60 River Road, East Hanover, New Jersey 07936, United States
$3,100,000
$262/SF
Building Size
11,800 SF
Asset Type
Retail
Closing
Sep 1, 2022
AI
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.
East Hanover 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
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93