Denholtz Properties Acquires Mixed-use Property In Red Bank For $4.8M
SOLD
$4,800,000
New Jersey
See Similar DealsMixed-use35,000 SF
Sold 08/23/2022
SOLD
Denholtz Properties Acquires Mixed-use Property In Red Bank For $4.8M
140 Broad Street, Red Bank, New Jersey 07701, United States
See Similar DealsMixed-use35,000 SF
Sold 08/23/2022
Summary
NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$137
Total Square Footage:35,000 SF
Transaction Type:Sale
A mixed-use property located at 140-148 & 133 Broad St in Red Bank has been sold for $4,800,000. The property spans 35,000 square feet, resulting in a price per square foot of $137. The sale took place on August 23, 2022 between the buyer, Denholtz Properties, and the seller, Schiff Real Property I LLC.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,800,000
- Address: 140-148 & 133 Broad St, Red Bank
- Market: Red Bank
- Buyer: Denholtz Properties
- Seller: Schiff Real Property I LLC
- Brokers: Andy Schwartz, Jordan Sobel & Andre Balthazard - Cushman & Wakefield
- Square Footage: 35,000
- Price per Square Foot: $137
The deal was facilitated by the brokers Andy Schwartz, Jordan Sobel, and Andre Balthazard from Cushman & Wakefield. They represented the buyer and seller in the transaction, ensuring a successful sale of the mixed-use property in Red Bank.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$256,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
Annual Debt Service$273,053.39
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