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Ericument Muftahi Acquires Industrial Property In Hackensack For $3.9M

Property Image
SOLD
$3,900,000
Matthew Nestler
Nelson Lee
+ 1

New Jersey

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Industrial19,000 SF
Sold 08/30/2022
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Property Image
SOLD

Ericument Muftahi Acquires Industrial Property In Hackensack For $3.9M

147 Central Avenue

See Similar Deals
Industrial19,000 SF
Sold 08/30/2022
Matthew Nestler
Nelson Lee
+ 1
Contact now

Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$205
Total Square Footage:19,000 SF
Transaction Type:Sale

The property asset involved in this transaction is an industrial asset located at 147 Central Ave in Hackensack, which was sold for $3,900,000. The asset encompasses a total area of 19,000 square feet, resulting in a price per square foot of $205.

Summary of transaction details:

The deal involved key individuals such as the buyer, Ericument Muftahi, and seller, Mike Teaton. The transaction was facilitated by brokers from Marcus & Millichap, specifically Eric Anton, Nelson Lee, Nicholas Mulligan, and Matthew Nestler, highlighting the expertise present in the handling of this industrial property sale.

Players

Eric Anton
9 deals$199.1M volume
BROKER

Nelson Lee
Marcus & Millichap
12 deals$507.6M volume(646) 805-1497
BROKER

Matthew Nestler
Marcus & Millichap
3 deals$43.8M volume
BROKER

Nicholas Mulligan
Marcus & Millichap
4 deals$54.9M volume
BROKER

Details

SOLD
IMAGE: Eric Anton, Nelson Lee, Nicholas Mulligan & Matthew Nestler DATE: 08/30/2022 ADDRESS: 147 Central Ave MARKET: Hackensack ASSET TYPE: Industrial BUYER: Ericument Muftahi SELLER: Mike Teaton BROKERS: Eric Anton (@EricMichaelAnton), (@AntonGroupnyc), Nelson Lee (@Nelson_Lee_Irish_Triplets), Nicholas Mulligan (@Nick__Mully24) & Matthew Nestler (@MattyNest) - Marcus & Millichap SALE PRICE: $3,900,000 SF: 19,000 ~ PPSF: $205

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$208,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88