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3164 New York Highway 112

Mike Jags Purchases Industrial Property In Medford For $1.5M With Douglas Elliman Representation
SOLDIndustrial

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

Michael Gronenthal

Douglas Elliman

Broker

$106.7M

vol

38 deals

Broker

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