Katie Kurtz & Steven Denholtz Of Denholtz Properties Sell Mixed-Use Portfolio For $18M In Clark
225 Terminal Avenue
$18,000,000
$244/SF
Building Size
73,573 SF
Asset Type
Mixed-use
Closing
Jan 3, 2025
AI
The transaction involves a mixed-use asset located at 33, 75, 89, 225, 301 & 315 Terminal Avenue in Clark. The total sale price for the properties was $18,000,000, and they encompass a total area of 73,573 square feet, resulting in a price per square foot of $245.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $18,000,000
- Square Footage: 73,573
- Price per Square Foot: $245
- Address: 33, 75, 89, 225, 301 & 315 Terminal Avenue
- Market: Clark
- Seller: Katie Kurtz & Steven Denholtz - Denholtz Properties
- Broker: David Zimmel - Zimmel Associates
Zimmel Associates facilitated the sale, managing the transaction on behalf of Denholtz Properties. This deal expands Denholtz's portfolio in the area to nine properties, which include a mix of industrial, office, and retail spaces such as a Dunkin' Donuts and a strip center, reflecting strategic investment decisions in the Clark market.
Clark 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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93