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3100 W Brigantine Ave Briga...

Keller Williams Realty Acquires Mixed-Use Property In Brigantine For $1.6M
SOLDMixed-use

Keller Williams Realty Acquires Mixed-Use Property In Brigantine For $1.6M

3100 W Brigantine Ave Brigantine, NJ 08203, USA

$1,600,000

Building Size

Asset Type

Mixed-use

Closing

Aug 31, 2023

AI

A mixed-use property located at 3100-3106 West Brigantine Avenue in Brigantine has been sold for $1.6 million. The property includes six units, consisting of four two-bedroom rentals, one one-bedroom unit, a storefront, and six garages. The potential for condo conversion and additional rental income adds to the property's value and investment potential.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $1,600,000
  • Address: 3100-3106 West Brigantine Avenue, Brigantine
  • Market: Brigantine
  • Units: 6
  • Price Per Unit (PPU): $266,667

The buyer's representative for this transaction was Michael Riordan from Keller Williams Realty, while the seller's representative was Scott Di Stefano from RE/MAX. Their expertise played a significant role in facilitating the successful sale and ensuring a smooth transaction process.

Players

Michael Riordan

Keller Williams Realty

Broker

$97.5M

vol

2 deals

Broker

Brigantine 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

9.91%

Cash-on-Cash

-2.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93