Daniel Lanni Of Kislak Represents Sale Of Mixed-Use Property At 377 Smith Street For $2.4M
SOLD
$2,400,000
New Jersey
See Similar DealsMixed-use25,000 SF
Sold 12/20/2024
SOLD
Daniel Lanni Of Kislak Represents Sale Of Mixed-Use Property At 377 Smith Street For $2.4M
377 Smith Street
See Similar DealsMixed-use25,000 SF
Sold 12/20/2024
Summary
NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$96
Total Square Footage:25,000 SF
Transaction Type:Sale
The property asset involved in this transaction is a mixed-use building located at 377 Smith Street in the Perth Amboy market. The sale price for the asset was $2,400,000, with a total of 40 units, resulting in a price per unit of $60,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,400,000
- Address: 377 Smith Street
- Market: Perth Amboy
- Total Units: 40
- Price Per Unit: $60,000
- Sale Date: 12/20/2024
The deal involved broker Daniel Lanni who represented the transaction through Kislak. This representation outlines the brokerage's role in facilitating the sale of the mixed-use property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$127,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,377.22
Annual Debt Service$136,526.69
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