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Cornerstone Capital Investment Hackensack LLC Acquires Retail Property On Main Street In Hackensack, NJ For $3M

Property Image
SOLD
$3,000,000

New Jersey

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Retail15,000 SF
Sold 10/28/2021
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Property Image
SOLD

Cornerstone Capital Investment Hackensack LLC Acquires Retail Property On Main Street In Hackensack, NJ For $3M

720-724 Main Street, Hackensack, NJ, USA

See Similar Deals
Retail15,000 SF
Sold 10/28/2021
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Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$200
Total Square Footage:15,000 SF
Transaction Type:Sale

Cornerstone Capital Investment Hackensack LLC has purchased a retail property located at 720-724 Main Street in Hackensack, NJ. The property spans 15,000 square feet and was sold for a price of $3,000,000, resulting in a price per square foot of $200. The transaction took place on October 28, 2021, and the seller was SIBS LLC.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $3,000,000
  • Address: 720-724 Main Street, Hackensack, NJ
  • Market: Hackensack, NJ
  • Buyer: Cornerstone Capital Investment Hackensack LLC
  • Seller: SIBS LLC
  • Brokers: Marc Palestina & Chuck Lanyard - The Goldstein Group
  • Square Footage: 15,000
  • Price per Square Foot: $200

Marc Palestina from The Goldstein Group represented the buyer, Cornerstone Capital Investment Hackensack LLC, in the transaction. For more information, you can reach out to Marc Palestina at [email protected].

Players

27 deals$117.5M volume(201) 799-9665
BROKER

Details

SOLD
IMAGE: Marc Palestina DATE: 10/28/2021 ADDRESS: 720-724 Main Street MARKET: Hackensack, NJ ASSET TYPE: Retail BUYER: Cornerstone Capital Investment Hackensack LLC SELLER: SIBS LLC BROKERS: Marc Palestina (@Marc_Pal) & Chuck Lanyard - The Goldstein Group SALE PRICE: $3,000,000 SF: 15,000 ~ PPSF: $200 NOTE: Marc Palestina [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$160,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37