Tom Moloughney Sells Mixed-Use Asset In Montclair For $7.18M With Brokers Rob DiFranco & Mike Lombardi - Horvath & Tremblay
SOLD
$7,180,000
New Jersey
See Similar DealsMixed-use9,071 SF
Sold 02/25/2022
SOLD
Tom Moloughney Sells Mixed-Use Asset In Montclair For $7.18M With Brokers Rob DiFranco & Mike Lombardi - Horvath & Tremblay
148 Valley Road, Montclair, New Jersey 07042, United States
See Similar DealsMixed-use9,071 SF
Sold 02/25/2022
Summary
NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$791
Total Square Footage:9,071 SF
Transaction Type:Sale
A mixed-use property located at 148 Valley Rd in Montclair was recently sold for $7,180,000. The property spans across 9,071 square feet, resulting in a price per square foot of $792. The transaction took place on February 25, 2022. The sale was facilitated by brokers Rob DiFranco and Mike Lombardi from Horvath & Tremblay. The seller of the property was Tom Moloughney.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $7,180,000
- SF: 9,071
- PPSF: $792
- Address: 148 Valley Rd
- Market: Montclair
Rob DiFranco and Mike Lombardi from Horvath & Tremblay played crucial roles in the sale of this mixed-use property in Montclair.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$382,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,509.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,036.86
Annual Debt Service$408,442.36
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