Marcus & Millichap Sells Mount Olive Retail Property For $6M With Brokers Michael Lombardi & Steven Schiavello
SOLD
$6,000,000
New Jersey
See Similar DealsRetail114,249 SF
Sold 10/14/2020
SOLD
Marcus & Millichap Sells Mount Olive Retail Property For $6M With Brokers Michael Lombardi & Steven Schiavello
7 Naughright Rd, Mount Olive
See Similar DealsRetail114,249 SF
Sold 10/14/2020
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$52
Total Square Footage:114,249 SF
Transaction Type:Sale
A retail property located at 7 Naughright Road in Mount Olive was recently sold for $6,000,000. The transaction took place on October 14, 2020. The asset spans a total area of 114,249 square feet, resulting in a price per square foot of $53.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,000,000
- Address: 7 Naughright Road
- Market: Mount Olive
- Square Footage: 114,249
- Price per Square Foot: $53
The sale of the retail property was facilitated by Michael Lombardi and Steven Schiavello of Marcus & Millichap. They served as the brokers in the transaction, representing the parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$319,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73
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