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Stone Harbor Land Sold For $3.6M By Stephan Frame - Diller Fisher Realtors

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SOLD
$3,595,000

New Jersey

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Land
Sold 06/21/2023
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Property Image
SOLD

Stone Harbor Land Sold For $3.6M By Stephan Frame - Diller Fisher Realtors

112th St Stone Harbor, NJ 08247, USA

See Similar Deals
Land
Sold 06/21/2023
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Summary

NEW JERSEY
Asset Type:Land
Transaction Type:Sale

A rare vacant land opportunity has just become available in Stone Harbor's southend beachblock. This 63 x 110 lot presents the perfect chance for a new owner to construct a single-family home, complete with a pool, garage, and outdoor living space. With a total area of 3465 sq. ft., this property offers plenty of space for comfortable living. Its prime location offers great beach views and direct beach access, making it an exciting prospect for anyone looking to enjoy the coastal lifestyle in Stone Harbor.

Summary of transation details:

  • Property Type: Land
  • Transaction Amount: $3,595,000
  • Address: Lot 58 112th Street, Stone Harbor
  • Market: Stone Harbor

Stephan Frame, from Diller Fisher Realtors, played a key role in this transaction as the representative for the buyer. With their expertise and knowledge of the area, Stephan ensured a smooth and successful deal. This vacant land opportunity presents a unique chance for the buyer to create their dream home in one of Stone Harbor's sought-after neighborhoods.

Players

Stephan Frame
9 deals$32.4M volume
BROKER

Details

SOLD
IMAGE: Stephan Frame DATE: 06/21/2023 ADDRESS: Lot 58 112th Street MARKET: Stone Harbor ASSET TYPE: Land BROKER: Stephan Frame - Diller Fisher Realtors (@DFRealtors) SALE PRICE: $3,595,000 NOTE: Rare vacant land opportunity in Stone Harbor's southend beachblock. This 63 x 110 lot allows for the construction of a 3465 sq. ft. single-family home with pool, garage, and outdoor living space. Great beach views and direct beach access make this an exciting offering in Stone Harbor.

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

$191,733.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,772.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,042.13
Annual Debt Service$204,505.61