BHHS Fox & Roach Acquires Development Site In Ocean City, NJ For $1.125M
15 Arkansas Avenue, Ocean City, NJ 08226, USA
$1,125,000
$161/SF
Building Size
6,969 SF
Asset Type
Development Site
Closing
May 28, 2020
AI
A development site located at 15 Arkansas Ave in Ocean City, NJ has been sold. The transaction took place on 05/28/2021 for a sale price of $1,125,000. The property has a buildable square footage (BSF) of 6,969 and a price per buildable square footage (PPBSF) of $161.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,125,000
- Address: 15 Arkansas Ave, Ocean City, NJ
- Market: Ocean City, NJ
The buyer was represented by Dean Chorin of BHHS Fox & Roach, while the seller was represented by Christine Martin of Keller Williams Realty Jersey Shore-Ocean City.
Players
Ocean City 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
14.10%
Cash-on-Cash
-4.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93