Nick Jones Purchases Retail Asset From John Paniccia In Melbourne For $6.22M
2945 New Haven Avenue
$13,000,000
$207/SF
Building Size
62,547 SF
Asset Type
Retail
Closing
Jul 31, 2026
AI
The property involved in this transaction is a retail asset located at 2945 New Haven Avenue in Melbourne. The sale price was $6,219,000 and the property encompasses a total of 62,547 square feet, resulting in a price per square foot of $99.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $6,219,000
- Buyer: Nick Jones
- Seller: John Paniccia
- Brokers: Vitor De Sousa & J. Blake Robison - Lightle Beckner Robison Inc.
- Market: Melbourne
- Total Sale and Lease Volume: Exceeded $13,000,000
Key individuals in this transaction include Nick Jones as the buyer and John Paniccia as the seller. Vitor De Sousa and J. Blake Robison represented the transaction on behalf of the seller through their agency, Lightle Beckner Robison Inc.
Players
Melbourne 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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93