Lidl Acquires Retail Property On NJ-18 In East Brunswick For $6.35M
SOLD
$6,350,000
New Jersey
See Similar DealsRetail40,000 SF
Sold 10/04/2022
SOLD
Lidl Acquires Retail Property On NJ-18 In East Brunswick For $6.35M
651 New Jersey Highway 18
See Similar DealsRetail40,000 SF
Sold 10/04/2022
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$158
Total Square Footage:40,000 SF
Transaction Type:Sale
Lidl has recently purchased a retail property located at 651 NJ-18 in East Brunswick, NJ. The property consists of a 40,000 square foot building situated on a 2.75 acre site. The purchase was made from Time Equities for a total sale price of $6,350,000, resulting in a price per square foot of $159. Lidl plans to redevelop the site and build a new discount grocery store.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,350,000
- Address: 651 NJ-18, East Brunswick, NJ
- Market: East Brunswick, NJ
- Buyer: Lidl
- Seller: Time Equities
- Broker: Shane Wierks - Jeffery Realty
- Total Square Footage: 40,000 SF
- Price per Square Foot: $159
Shane Wierks from Jeffery Realty represented Lidl as their broker in this transaction.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$338,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,560.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,102.24
Annual Debt Service$361,226.88
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