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Zimmel Associates Brokers $1.2M Sale Of Mixed-Use Buildings In Roselle At 223-235 Saint Georges Avenue

Property Image
SOLD
$1,200,000

New Jersey

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Mixed-use10,526 SF
Sold 07/18/2024
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Property Image
SOLD

Zimmel Associates Brokers $1.2M Sale Of Mixed-Use Buildings In Roselle At 223-235 Saint Georges Avenue

223 East Saint Georges Avenue & 235 East Saint Georges Avenue

See Similar Deals
Mixed-use10,526 SF
Sold 07/18/2024
Contact now

Summary

NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$114
Total Square Footage:10,526 SF
Transaction Type:Sale

The mixed-use property located at 223-235 Saint Georges Avenue in Roselle was sold for $1,200,000. The total square footage of the asset is 5,263, equating to a price per square foot of $228. This sale involves two buildings, which include a Jiffy Lube and additional residential units along with a hair salon.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,200,000
  • Square Footage: 5,263
  • Price per Square Foot: $228
  • Address: 223-235 Saint Georges Avenue
  • Market: Roselle
  • Broker: Jordan Zimmel - Zimmel Associates

Zimmel Associates facilitated the transaction, which represents the final divestment of the owner's portfolio on that street. The identity of the buyer remains undisclosed.

Players

Jordan Zimmel
3 deals$6.6M volume
BROKER

Details

SOLD
IMAGE: Jordan Zimmel DATE: 07/18/2024 ADDRESS: 223-235 Saint Georges Avenue MARKET: Roselle ASSET TYPE: Mixed-use BROKER: Jordan Zimmel - Zimmel Associates (@ZimmelAssociates) SALE PRICE: $1,200,000 SF: 5,263 ~ PPSF: $228 NOTE: Zimmel Associates brokered the $1.2 million sale of two buildings at 223-235 St. George Ave. in Roselle, featuring a Jiffy Lube and a mixed-use building with a hair salon and residential units. The buyer remains undisclosed, and the sale marks the final divestment of the owner's portfolio on the street.

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

$64,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,263.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,688.61
Annual Debt Service$68,263.35