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934 New Jersey Highway 22

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

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

Kathy Anderson

Cushman & Wakefield

Broker

$937.3M

vol

56 deals

Broker
TD Bank
TD BankLender

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