Development Site In Asbury Park, NJ Sells For $2.2M
1001 1st Avenue, Asbury Park, NJ, USA
$2,175,000
$158/SF
Building Size
13,720 SF
Asset Type
Development Site
Closing
Jun 18, 2020
AI
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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Asbury Park Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.29%
Cash-on-Cash
-2.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93