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Nicholas Giuffre & Travis Marshall Facilitate $2,225,000 Land Sale In Avalon

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SOLD
$2,225,000

New Jersey

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Land
Sold 04/02/2024
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SOLD

Nicholas Giuffre & Travis Marshall Facilitate $2,225,000 Land Sale In Avalon

173 38th Street

See Similar Deals
Land
Sold 04/02/2024
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Summary

NEW JERSEY
Asset Type:Land
Transaction Type:Sale

The vacant land property at 173 38th Street in Avalon was sold for $2,225,000. The property is located only a block away from the Avalon History Museum and the 39th Street Avalon recreation area. It offers a prime location close to the beach and features a 40 x 110 lot suitable for building a 3000+ square foot home. The property comes with an approved site plan ready for design and implementation.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $2,225,000
  • Address: 173 38th Street
  • Market: Avalon

Nicholas Giuffre from Compass represented the buyer in the transaction, while Travis Marshall from Long & Foster Real Estate served as the seller's representative. Both brokers played essential roles in facilitating the sale of the property in Avalon, ensuring a successful transaction for both parties involved.

Players

Nicholas Giuffre
3 deals$26.2M volume(609) 224-3837
BROKER

Travis Marshall
Long & Foster Real Estate
1 deal$2.2M volume
BROKER

Details

SOLD
IMAGE: Nicholas Giuffre & Travis Marshall DATE: 04/02/2024 ADDRESS: 173 38th Street MARKET: Avalon ASSET TYPE: Land BUYER'S REP: Nicholas Giuffre - Compass (@Compass) SELLER'S REP: Travis Marshall (@TravisMarshallre) - Long & Foster Real Estate (@LongandFoster) SALE PRICE: $2,225,000 NOTE: Compass represented the buyer in purchasing a vacant land property at 173 38th Street in Avalon for $2,225,000, with Long & Foster Real Estate serving as the seller's representative. The property, located just one block away from the Avalon History Museum and the 39th Street Avalon recreation area, offers a prime location close to the beach and features a 40 x 110 lot suitable for building a 3000+ square foot home, with an approved site plan ready for design and implementation.

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

$118,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,904.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,547.64
Annual Debt Service$126,571.62