Jersey City Mixed-Use Property Sold For $5.7M With Marcus & Millichap As Brokers
SOLD
$5,700,000
+ 3
New Jersey
See Similar DealsMixed-use4,408 SF
Sold 12/11/2020
SOLD
Jersey City Mixed-Use Property Sold For $5.7M With Marcus & Millichap As Brokers
236-238 Newark Avenue, Jersey City, NJ, USA
See Similar DealsMixed-use4,408 SF
Sold 12/11/2020
+ 3
Summary
NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$1,293
Total Square Footage:4,408 SF
Transaction Type:Sale
The mixed-use property located at 236-238 Newark Avenue in Jersey City has been sold in a recent transaction. The property consists of 17 units and was sold for a total price of $5,700,000, resulting in a per unit price of $335,294. The transaction took place on 12/11/2020.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,700,000
- Address: 236-238 Newark Avenue
- Market: Jersey City
The deal was facilitated by Fahri Ozturk, Richard Gatto, David Ferber, Jed Matricaria, and Daniela Corbosiero of Marcus & Millichap. They represented the parties involved in the transaction.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$304,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,250.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,020.91
Annual Debt Service$324,250.90
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