Development Site In Asbury Park, NJ Sells For $2.2M
SOLD
$2,175,000
New Jersey
See Similar DealsDevelopment Site13,720 SF
Sold 06/18/2020
SOLD
Development Site In Asbury Park, NJ Sells For $2.2M
1001 1st Avenue, Asbury Park, NJ, USA
See Similar DealsDevelopment Site13,720 SF
Sold 06/18/2020
Summary
NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$158
Total Square Footage:13,720 SF
Transaction Type:Sale
An undisclosed development site located at 1001 1st Avenue in Asbury Park, NJ, has been sold for a price of $2,175,000. The transaction took place on June 18, 2021, with brokers Fahri Ozturk, Richard Gatto, and Chez Eider facilitating the deal.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,175,000
- BSF: 120,333
- PPBSF: $18
- Address: 1001 1st Avenue, Asbury Park, NJ
- Market: Asbury Park, NJ
Although no additional details regarding the property's characteristics are available, the undisclosed development site boasts a sale price of $2,175,000 and a building square footage of 120,333. The offering price per building square footage is set at $18.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$115,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,727.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,310.61
Annual Debt Service$123,727.32
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