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Truong Realty LLC Acquires Retail Property On 934 Route 22 In North Plainfield, NJ For $2.5M

Property Image
SOLD
$2,500,000
Steve Bussel
Caillin Boles
Kathy Anderson

New Jersey

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Retail20,000 SF
Sold 09/23/2021
the dealplayerscompscontact
Property Image
SOLD

Truong Realty LLC Acquires Retail Property On 934 Route 22 In North Plainfield, NJ For $2.5M

934 New Jersey Highway 22

See Similar Deals
Retail20,000 SF
Sold 09/23/2021
Steve Bussel
Caillin Boles
Kathy Anderson
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$125
Total Square Footage:20,000 SF
Transaction Type:Sale

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

Kathy Anderson
Cushman & Wakefield
Kathy Anderson
55 deals$922.6M volume(732) 720-6301
BROKER
Caillin Boles
Cushman & Wakefield
Caillin Boles
44 deals$520.3M volume(732) 720-6308
BROKER
Steve Bussel
Bussel Realty
Steve Bussel
9 deals$44.7M volume
BROKER
TD Bank
TD Bank
LENDER

Details

SOLD
IMAGE: Steve Bussel DATE: 09/23/2021 ADDRESS: 934 Route 22 MARKET: North Plainfield, NJ ASSET TYPE: Retail BUYER: Truong Realty LLC SELLER: 934 Route 22 LLC BUYER'S REP: Zimmel Associates SELLER'S REP: Steve Bussel - Bussel Realty Corp SALE PRICE: $2,500,000 SF: 20,000 ~ PPSF: $125

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Deal Type
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