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Steven Siegel Of Marcus & Millichap Represents Seller In $9M Retail Sale In Edgewater
SOLD
$9,000,000
New Jersey
See Similar DealsRetail13,361 SF
Sold
SOLD
Steven Siegel Of Marcus & Millichap Represents Seller In $9M Retail Sale In Edgewater
65 River Road
See Similar DealsRetail13,361 SF
Sold
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$673
Total Square Footage:13361 SF
Transaction Type:Sale
A 13,361-square-foot retail property located at 65 River Road in Edgewater, New Jersey, has been sold for $9 million. The asset is occupied by a CVS and is under a ground lease that runs through 2035. The price per square foot for this transaction amounts to $674.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,000,000
- Address: 65 River Road
- Market: Edgewater
- Square Footage: 13,361
- Price per Square Foot: $674
- Ground Lease Term: Through 2035
- Broker: Steven Siegel - Marcus & Millichap
Steven Siegel of Marcus & Millichap represented the seller in this transaction, facilitating the sale to a private investor who acquired the property. The deal reflects the ongoing interest in retail assets in the Edgewater market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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