Truong Realty LLC Acquires Retail Property On 934 Route 22 In North Plainfield, NJ For $2.5M
934 New Jersey Highway 22
$2,500,000
$125/SF
Building Size
20,000 SF
Asset Type
Retail
Closing
Sep 23, 2021
AI
Truong Realty LLC has acquired a retail property located at 934 Route 22 in North Plainfield, NJ. The transaction took place on 09/23/2021, with a sale price of $2,500,000. The property has a total area of 20,000 square feet, resulting in a price per square foot of $125. The seller of the property was 934 Route 22 LLC.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,500,000
- Address: 934 Route 22, North Plainfield, NJ
- Market: North Plainfield, NJ
- Buyer: Truong Realty LLC
- Seller: 934 Route 22 LLC
- Buyer's Representative: Zimmel Associates
- Seller's Representative: Steve Bussel - Bussel Realty Corp
The buyer's representative in this deal was Zimmel Associates. On the other hand, Steve Bussel from Bussel Realty Corp represented the seller, 934 Route 22 LLC.
Players
North Plainfield 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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93