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
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