Nickenzie Enterprises Acquires Mixed-Use Property In Point Pleasant For $1.75M
SOLD
$1,750,000
New Jersey
See Similar DealsMixed-use11,000 SF
Sold 05/09/2022
SOLD
Nickenzie Enterprises Acquires Mixed-Use Property In Point Pleasant For $1.75M
3241 Route 88, Point Pleasant, New Jersey 08742, United States
See Similar DealsMixed-use11,000 SF
Sold 05/09/2022
Summary
NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$159
Total Square Footage:11,000 SF
Transaction Type:Sale
A mixed-use property located at 3241-3251 NJ-88 in Point Pleasant has been sold for $1,750,000. The property spans approximately 11,000 square feet, resulting in a price per square foot of $159. The transaction took place on 05/09/2022.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,750,000
- Address: 3241-3251 NJ-88, Point Pleasant
- Market: Point Pleasant
The buyer, Nickenzie Enterprises, acquired the property from the seller, Brick Border, LLC. The transaction was facilitated by Jarrad Coletta of Coletta Commercial Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$93,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,217.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,295.89
Annual Debt Service$99,550.71
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