Mountain Development Corp. & Cohen Commercial Properties Acquire Retail Property In Wayne For $8.65M
755 Hamburg Turnpike, Wayne, New Jersey 07470, United States
$8,650,000
$149/SF
Building Size
57,963 SF
Asset Type
Retail
Closing
Aug 9, 2022
AI
The retail property located at 755-797 Hamburg Turnpike in Wayne has been sold for a total price of $8,650,000. The property spans over 9.29 acres and offers a total of 57,963 square feet of space. The sale price per square foot is $149, indicating a profitable transaction in the market.
Summary of transaction details
- Property Type: Retail
- Sale Price: $8,650,000
- Square Footage: 57,963
- Price per Square Foot: $149
- Address: 755-797 Hamburg Turnpike
- Market: Wayne
Mountain Development Corp. and Cohen Commercial Properties have acquired the property from Ramapo Plaza Associates LLC. The deal was facilitated by brokers David Bernhaut, Andy Schwartz, Jordan Sobel, Andre Balthazard, Brian Whitmer, and Max Helfman of Cushman & Wakefield.
Players
Wayne 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
1.83%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93