Ryan Elmer Purchases Retail Space At 785 New Jersey Highway 22 For $2.5M With Besen Partners
SOLD
$2,500,000
New Jersey
See Similar DealsRetail19,845 SF
Sold 02/19/2025
SOLD
Ryan Elmer Purchases Retail Space At 785 New Jersey Highway 22 For $2.5M With Besen Partners
785 New Jersey Highway 22
See Similar DealsRetail19,845 SF
Sold 02/19/2025
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$126
Total Square Footage:19,845 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail space located at 785 New Jersey Highway 22 in North Plainfield. The sale price was set at $2,500,000, encompassing a total square footage of 19,845, resulting in a price per square foot of $125.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,500,000
- Address: 785 New Jersey Highway 22
- Market: North Plainfield
- Square Footage: 19,845
- Price Per Square Foot: $125
- Buyer: Ryan Elmer
- Seller: Yaakov Daniel
- Brokers: Samuel Finkler & Reese Weaver - Besen Partners
The key individuals involved in this transaction are Ryan Elmer, the buyer, and Yaakov Daniel, the seller. The brokerage team of Samuel Finkler and Reese Weaver from Besen Partners represented the seller, successfully negotiating the deal despite a challenging debt environment by arranging a seller-financing transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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