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212 Passaic Ave, Fairfield,...

Dominic Fittizzi Represents Seller In Sale Of Property At 212 Passaic Ave Fairfield NJ
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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.

Players

Dominic Fittizzi

NAI James E. Hanson

Broker

$6.9M

vol

6 deals

Broker

Fairfield Land Market Snapshot

Boundary boundary · Land · Sale transactions

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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