Updated Dec 21, 2023
Marie Reed Acquires SFR In Spring Lake, NJ For $5.4M
31 Worthington Avenue, Spring Lake, NJ 07762
$5,400,000
$1,251/SF
Building Size
4,316 SF
Asset Type
Industrial
Closing
May 10, 2021
About this deal
AI
The property asset involved in this closed transaction is a single-family residence located at 31 Worthington Ave in Spring Lake, NJ. The sale took place on 05/11/2021, with a sale price of $5,400,000. The property spans a total of 4,316 square feet, resulting in a price per square foot of $1,251. The buyer's representative in this transaction was Marie Reed from The Gallery Residential Brokerage, while the seller's representatives were Michael Skea and Amy White from Ward Wight Sotheby's International Realty.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $5,400,000
- Address: 31 Worthington Ave, Spring Lake, NJ
- Market: Spring Lake, NJ
- Buyer's Representative: Marie Reed - The Gallery Residential Brokerage
- Seller's Representatives: Michael Skea & Amy White - Ward Wight Sotheby's International Realty
In this transaction, Marie Reed from The Gallery Residential Brokerage represented the buyer, while Michael Skea and Amy White from Ward Wight Sotheby's International Realty represented the seller.
On the Map
$5,400,000
$1,251/SF
Industrial
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Players
Spring Lake Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Deal FAQ
About $1.3K per square foot on a published $5.4M for 4,316 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.94%
Cash-on-Cash
-0.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93