Dominic Fittizzi Represents Seller In Sale Of Property At 212 Passaic Ave Fairfield NJ
212 Passaic Ave, Fairfield, NJ, 07004
Building Size
—
Asset Type
Land
Closing
Nov 19, 2023
AI
The property involved in the transaction is a two-acre redevelopment site located at 212 Passaic Ave, Fairfield, NJ, 07004. The site is zoned for retail and is positioned directly across from the Essex County Airport. It has multiple access points to Route 46 and various mass transit options, making it a favorable location for redevelopment. The future plans for this site include the construction of a medical facility.
Summary of transaction details:
- Property Type: Redevelopment Site
- Transaction Amount: Not disclosed
- Address: 212 Passaic Ave, Fairfield, NJ, 07004
- Market: Fairfield
- Seller's Representative: Dominic Fittizzi
- Buyer: Unknown
- Square Footage: 0
The seller, Passaic Ave Realty LLC, was represented by NAI James E. Hanson in this transaction. Dominic Fittizzi played a vital role in the completion of this assignment, highlighting the property's location and its potential for a medical facility that aims to contribute to the local community. NAI Hanson utilized their market knowledge and experience to attract a qualified buyer who recognizes the long-term investment value of the site.
Fairfield Land Market Snapshot
Boundary boundary · Land · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93