Mountain Development Corp. & Cohen Commercial Properties Acquire Retail Property In Wayne For $8.65M
SOLD
$8,650,000
+ 3
New Jersey
See Similar DealsRetail57,963 SF
Sold
SOLD
Mountain Development Corp. & Cohen Commercial Properties Acquire Retail Property In Wayne For $8.65M
755 Hamburg Turnpike, Wayne, New Jersey 07470, United States
See Similar DealsRetail57,963 SF
Sold
+ 3
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$149
Total Square Footage:57963 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$461,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,731.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,005.41
Annual Debt Service$492,064.96
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