Velocity Ventures Partners Sells Industrial Asset In West Berlin For $4.2M
SOLD
$2,700,000
New York
See Similar DealsIndustrial48,000 SF
Sold 10/01/2020
SOLD
Velocity Ventures Partners Sells Industrial Asset In West Berlin For $4.2M
436 Commerce Ln, West Berlin, Nj 08091, Usa
See Similar DealsIndustrial48,000 SF
Sold 10/01/2020
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$56
Total Square Footage:48,000 SF
Transaction Type:Sale
The industrial property located at 436 Commerce Lane in West Berlin has been sold in a recent transaction. The property spans 48,000 square feet and was sold for a price of $4,200,000, resulting in a price per square foot of $88. The sale was facilitated by brokers Ian Richman, Ross Abramsohn, and Marc Isdaner from Colliers International.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,200,000
- Square Footage: 48,000
- Address: 436 Commerce Lane, West Berlin
- Market: West Berlin
Velocity Ventures Partners acted as the seller in this transaction. The sale was facilitated by brokers Ian Richman, Ross Abramsohn, and Marc Isdaner from Colliers International.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$144,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53
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