Marcus & Millichap Sells Mount Olive Retail Property For $6M With Brokers Michael Lombardi & Steven Schiavello
7 Naughright Rd, Mount Olive
$6,000,000
$52/SF
Building Size
114,249 SF
Asset Type
Retail
Closing
Oct 13, 2020
AI
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.
Players
Hackettstown 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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93