Spiros Maragos Acquires Mixed-use Property From David Shorenstein In Montclair For $1.93M
SOLD
$1,930,000
New Jersey
See Similar DealsMixed-use5,004 SF
Sold 09/11/2024
SOLD
Spiros Maragos Acquires Mixed-use Property From David Shorenstein In Montclair For $1.93M
547 Valley Road
See Similar DealsMixed-use5,004 SF
Sold 09/11/2024
Summary
NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$385
Total Square Footage:5,004 SF
Transaction Type:Sale
The mixed-use property located at 547 Valley Road in the Montclair market has been sold for $1,930,000. The asset encompasses a total of 5,004 square feet, equating to a price per square foot of $385.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,930,000
- Address: 547 Valley Road
- Market: Montclair
- Square Footage: 5,004
- Price per Square Foot: $385
- Buyer: Spiors Maragos
- Seller: David Shorenstein
- Brokers: Yanni Marmarou & Griffin Westlin - Investment Property Realty Group (IPRG)
The transaction involved Spiors Maragos as the buyer and David Shorenstein as the seller, with representation provided by brokers Yanni Marmarou and Griffin Westlin from Investment Property Realty Group (IPRG).
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$102,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,856.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,149.18
Annual Debt Service$109,790.22
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