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TLH 773 Hamilton LLC Acquires Former Rite Aid In Franklin Township For $3.85M
SOLD
$3,850,000
New Jersey
See Similar DealsRetail12,000 SF
Sold 11/24/2024
SOLD
TLH 773 Hamilton LLC Acquires Former Rite Aid In Franklin Township For $3.85M
773 Hamilton Street
See Similar DealsRetail12,000 SF
Sold 11/24/2024
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$320
Total Square Footage:12,000 SF
Transaction Type:Sale
The property located at 773 Hamilton Street, Somerset, encompasses 1.15 acres and features a retail space measuring 12,000 square feet. The transaction was executed for a price of $3,850,000, with a price per square foot of $321.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,850,000
- Address: 773 Hamilton Street
- Market: Somerset
- SF: 12,000
- PPSF: $321
- Buyer: TLH 773 Hamilton LLC
- Broker: James Duffy - Davis Commercial
James Duffy from Davis Commercial represented the seller in the transaction, facilitating the sale of the former Rite Aid property in Franklin Township. This location is set to become the second New Jersey site for Little Honors Day Care, which is scheduled to open next year.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$205,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,678.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,250.96
Annual Debt Service$219,011.57
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