Updated Dec 20, 2023
Morristown Mixed-Use Property Sells For $1.55M With Fahri Ozturk & Richard Gatto ZturkGattoGroup As Brokers
5-7 Washington Street, Morristown, NJ, USA
$1,550,000
$302/SF
Building Size
5,126 SF
Asset Type
Mixed-use
Closing
Apr 14, 2021
About this deal
AI
A mixed-use property located at 5-7 Washington Street in Morristown, NJ has been sold for a price of $1,550,000. The property spans across 5,126 square feet, resulting in a price per square foot of $302. The sale took place on April 15, 2021. The transaction was facilitated by brokers Fahri Ozturk, Richard Gatto, David Cafiero, John Moroz, and Alan Cafiero of zturkGattoGroup. The property is situated in the Morristown market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,550,000
- Address: 5-7 Washington Street
- Market: Morristown, NJ
- Square Footage: 5,126
- Price per Square Foot: $302
The deal was represented by Fahri Ozturk, Richard Gatto, David Cafiero, John Moroz, and Alan Cafiero of zturkGattoGroup. Their expertise and assistance played a crucial role in the successful completion of the transaction.
Players
Morristown 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
10.23%
Cash-on-Cash
-2.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93