Updated Oct 28, 2024
Nickenzie Enterprises Acquires Mixed-Use Property In Point Pleasant For $1.75M
3241 Route 88, Point Pleasant, New Jersey 08742, United States
$1,750,000
$159/SF
Building Size
11,000 SF
Asset Type
Mixed-use
Closing
May 8, 2022
About this deal
AI
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.
Point Pleasant Boro 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
9.06%
Cash-on-Cash
-2.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93