East Brunswick, New Jersey – We have recently searched for NNN Commercial Real Estate in the New Jersey area. NNN Commercial Real Estate can be found outside of Major Metropolitan Cities generally at a more realistic purchase price. For example, instead of scouring through Washington, D.C. or Manhattan for a property, a commercial real estate investor can search in New Jersey and the surrounding areas. NNN Commercial Real Estate should be looked into for a 1031 Exchange replacement Property. Some people have the misconception that exchange properties must be of the exact same type. However, the actual definition of like-kind is flexible as you can trade up from a small apartment building to triple net lease properties for 1031 Exchange.
Our NNN Commercial Real Estate news is from Sayreville, New Jersey. We wanted to report that a New Jersey commercial real estate developer sold his property named the Woodmont Business Center. The commercial real estate developer received approximately $3.23 Million which breaks down to $107 per square foot. The Commercial Industrial Property has a total of 30,122-square-feet. The commercial real estate buyer was in the process of a 1031 Exchange. The commercial real estate buyer is a local New Jersey investor. This NNN Commercial Real Estate has excellent mechanics, also the roof and parking lot are in fine condition. The Commercial Real Estate Buyer will not need to layout capital for improvements or renovations.
This commercial real estate development will give an investor a risk adverse investment, with stable cash flow. The commercial real estate buyer can realize a potential of equity buildup while the Tenants pay down his Commercial Loan. The commercial real estate investor was able to receive a five-year, fixed-rate commercial loan. This commercial loan has a 5.25% rate. Commercial Mortgage Lenders arranged a commercial loan for $2.29 million with a 25 year amortization schedule.
This 1031 Exchange property is the Woodmont Business Center, located at 776 Jernee Mill Road,in Sayreville The 1031 Exchange Property is flex warehouse building that is comprised of 28 units. The Units in this Industrial Property are 1,087-square feet each, currently leased by 22 tenants. It is approximately 96% leased with some Tenants occupying more than one unit. The net-leases are generally one to two years in length, as is pretty standard for Industrial Property units in the New Jersey area. The net lease Tenants pay for their share of taxes, insurance and CAM.
This profitable Commercial Industrial Property has convenient benefits with each tenant having their own entrance, loading, utility meters, heat, and air conditioning. These Industrial units are great for local contractors, regional and local businesses. The 1031 Exchange Property is a turnkey commercial real estate investment. The 1031 Exchange Property is in very good condition and has been well maintained by the commercial real estate developer who sold the property.
The Commercial Property sits in Sayreville which is a borough located on the Raritan River. The Commercial Industrial Property is in close proximity to Raritan Bay in Middlesex County. Sayreville was originally incorporated as a township way back in April of 1876. There are plenty of large non-governmental employers in Middlesex County that include Rutgers University, Bristol-Myers Squibb. Merrill Lynch & Company, Johnson & Johnson, Prudential Insurance Company, Robert Wood Johnson University Hospital, Silverline Building Products, St. Peter’s University Hospital, Telcordia Technologies, and Raritan Bay Medical Center. Also more large employers to help fuel a commercial real estate development are Pathmark, Home Depot, United Parcel Service, and AT&T.
Contact Net Lease Properties to sell your net lease properties, purchase NNN Property Investments.