Updated Dec 20, 2023
Coldwell Banker Sol Needles Real Estate Acquires Residential Land In Cape May, NJ For $2M
1500 Velvento Ave, Cape May, NJ 08204
$2,000,000
$208/SF
Building Size
9,612 SF
Asset Type
—
Closing
Jan 27, 2022
About this deal
AI
A residential land located at 1500 Velvento Ave in Cape May, NJ, has been sold for $2,000,000. The transaction took place on January 28, 2022. The property is captured in a captivating image by William Bezaire on Instagram.
Summary of transaction details
- Property Type: Residential Land
- Sale Price: $2,000,000
- Address: 1500 Velvento Ave, Cape May, NJ
- Market: Cape May, NJ
- Image: William Bezaire
- Date: January 28, 2022
The sale was facilitated by William Bezaire of Coldwell Banker Sol Needles Real Estate. As the broker representing the transaction, William Bezaire played a crucial role in ensuring a successful deal.
Players
Cape May CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $208 per square foot on a published $2M for 9,612 square feet (2022).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93