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115 Myrtle Avenue

Nael Abutabikh Acquires Industrial Property From Norman Bickoff In Passaic For $900,000
SOLDIndustrial

Nael Abutabikh Acquires Industrial Property From Norman Bickoff In Passaic For $900,000

115 Myrtle Avenue

$900,000

$90/SF

Building Size

10,000 SF

Asset Type

Industrial

Closing

May 7, 2025

AI

The property asset is an industrial asset located at 115 Myrtle Avenue in the Passaic market. The transaction for the property was completed at a sale price of $900,000. The total square footage of the asset is 10,000, resulting in a price per square foot of $90.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $900,000
  • Address: 115 Myrtle Avenue
  • Market: Passaic
  • Square Footage: 10,000
  • Price Per Square Foot: $90
  • Buyer: Nael Abutabikh
  • Seller: Norman Bickoff
  • Brokers: Joseph Spinella - KW Commercial, Aidan Alverson - Keller Williams Realty, Henry Eisenstein - EXP Realty

Joseph Spinella, Aidan Alverson, and Henry Eisenstein were the brokers involved in this transaction, representing their respective agencies. Joseph Spinella serves as the Director of Commercial Real Estate at KW and is available at 732-546-7501 for any commercial real estate assistance.

Players

Joseph Spinella

Keller Williams Realty

Broker

$55.7M

vol

24 deals

Broker

Passaic Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

17.63%

Cash-on-Cash

-5.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93