Mike Jags Purchases Industrial Property In Medford For $1.5M With Douglas Elliman Representation
3164 New York Highway 112
$1,500,000
$250/SF
Building Size
6,000 SF
Asset Type
Industrial
Closing
Aug 25, 2025
AI
The property involved in the transaction is an industrial asset located at 3165 New York Highway 112 in Medford. The sale occurred at a price of $1,500,000. This industrial space encompasses a total square footage of 6,000 and sits on a 1.4-acre lot, resulting in a price per square foot of $250.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,500,000
- Square Footage: 6,000
- Price Per Square Foot: $250
- Acres: 1.4
- Buyer: Mike Jags
- Seller: Stacey Kjaer
- Buyer's Representative: Michael Gronenthal - Douglas Elliman
- Seller's Representatives: Dennis Gandley & Michael Murphy - Douglas Elliman
This transaction involved notable representatives from Douglas Elliman, with Michael Gronenthal representing the buyer, Mike Jags, and both Dennis Gandley and Michael Murphy representing the seller, Stacey Kjaer. The involvement of these representatives plays a significant role in facilitating the transaction process.
Players
Medford Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93