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Horvath & Tremblay Broker $2.6M Sale Of Retail Plaza With FedEx Office And NJ Plant Based Compassion Dispensary

Property Image
SOLD
$2,553,000

New Jersey

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Retail6,664 SF
Sold 08/21/2023
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Property Image
SOLD

Horvath & Tremblay Broker $2.6M Sale Of Retail Plaza With FedEx Office And NJ Plant Based Compassion Dispensary

903 White Horse Road

See Similar Deals
Retail6,664 SF
Sold 08/21/2023
Contact now

Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$383
Total Square Footage:6,664 SF
Transaction Type:Sale

The two-tenant plaza located at 903 White Horse Road in Voorhees Township has been sold for $2,553,000. The property is situated on a 1.98-acre parcel and features a FedEx Office and NJ Plant Based Compassion dispensary. The total square footage of the plaza is 6,664, resulting in a price per square foot of $383. Both tenants have signed new 10-year leases, and there is potential for additional space pending town approval.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,553,000
  • Address: 903 White Horse Road
  • Market: Voorhees Township
  • Asset Type: Retail
  • Acres: 1.98
  • Broker: Michael Lombardi - Horvath & Tremblay
  • Square Footage: 6,664
  • Price Per Square Foot: $383

Horvath & Tremblay, represented by Michael Lombardi, brokered the sale of the two-tenant plaza. The involvement of Horvath & Tremblay highlights their expertise in retail property transactions. This successful deal demonstrates the demand for retail properties in Voorhees Township and the potential for growth in the area.

Players

Michael "Mike" Lombardi
29 deals$114.8M volume
BROKER

Details

SOLD
IMAGE: Michael Lombardi DATE: 08/21/2023 ADDRESS: 903 White Horse Road MARKET: Voorhees Township ASSET TYPE: Retail ~ ACRES: 1.98 BROKER: Michael Lombardi (@Mike_Lombardi_HT) - Horvath & Tremblay SALE PRICE: $2,553,000 SF: 6,664 ~ PPSF: $383 NOTE: Horvath & Tremblay brokered the $2,553,000 sale of a two-tenant plaza featuring a FedEx Office and NJ Plant Based Compassion dispensary on a 1.98-acre parcel. Both tenants are under new 10-year leases, with potential for additional space pending town approval.

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

$136,159.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,070.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,102.52
Annual Debt Service$145,230.27