Devora Munk - HomeSmart First Advantage Represents Buyer In $6.5M Lakewood Land Sale
SOLD
$6,500,000
New Jersey
See Similar DealsSold 05/20/2022
SOLD
Devora Munk - HomeSmart First Advantage Represents Buyer In $6.5M Lakewood Land Sale
0 Joe Parker Road, Lakewood, New Jersey 08701, United States
See Similar DealsSold 05/20/2022
Summary
NEW JERSEY
Transaction Type:Sale
The transaction that took place in Lakewood involved the sale of a piece of land located at 0 Joe Parker Rd. The land spans approximately 6.04 acres and was sold for a price of $6,500,000. The sale occurred on May 20, 2022.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $6,500,000
- Address: 0 Joe Parker Rd
- Market: Lakewood
- Size: 6.04 acres
Devora Munk from HomeSmart First Advantage represented the buyer in this transaction, while Ellen Hall from Diane Turton, Realtors represented the seller.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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