Joshua Glussky & Marcy Gross Of Sheldon Gross Realty Represent Buyer In Matawan Flex Space Sale
2 Johnson Avenue
Building Size
20,230 SF
Asset Type
Mixed-use
Closing
Feb 12, 2025
AI
A 20,230-square-foot mixed-use property located at 2 Johnson Avenue in Matawan has been sold. The asset encompasses a 0.8-acre parcel that features two warehouse buildings and an office/showroom space, which was formerly utilized by a plumbing supply company.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Not specified
- Square Footage: 20,230
- Address: 2 Johnson Avenue
- Market: Matawan
- Acres: 0.8
- Buyer's Representative: Joshua Glussky & Marcy Gross - Sheldon Gross Realty
- Seller's Representative: KBC Advisors
The transaction was brokered by Sheldon Gross Realty, with KBC Advisors acting on behalf of the seller. The involvement of these brokerage firms highlights the collaboration in facilitating the property sale.
Matawan Mixed-use Market Snapshot
Boundary boundary · Mixed-use · 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