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Coletta Commercial Realty Brokers $1.15M Mixed-Use Sale In Point Pleasant Beach

Property Image
SOLD
$1,150,000

New Jersey

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Mixed-use6,800 SF
Sold 10/28/2022
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Property Image
SOLD

Coletta Commercial Realty Brokers $1.15M Mixed-Use Sale In Point Pleasant Beach

604 Richmond Avenue

See Similar Deals
Mixed-use6,800 SF
Sold 10/28/2022
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Summary

NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$169
Total Square Footage:6,800 SF
Transaction Type:Sale

604 Richmond Ave, located in Point Pleasant Beach, was recently sold in a mixed-use transaction. The sale, facilitated by Jarrad Coletta from Coletta Commercial Realty, involved the buyer, 604 Richmond, and the seller, PSIX Inc. The property spans 6,800 square feet and was sold for a price of $1,150,000, resulting in a price per square foot of $169. With its prime location and mixed-use potential, this property offers a promising investment opportunity in Point Pleasant Beach.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,150,000
  • Market: Point Pleasant Beach
  • Address: 604 Richmond Ave
  • Buyer: 604 Richmond
  • Seller: PSIX Inc
  • Broker: Jarrad Coletta - Coletta Commercial Realty
  • SF: 6,800
  • PPSF: $169

This successful transaction showcases the expertise of Jarrad Coletta from Coletta Commercial Realty, who effectively represented both the buyer, 604 Richmond, and the seller, PSIX Inc. The sale of 604 Richmond Ave, with its ample square footage and mixed-use potential, highlights the strong demand for commercial properties in Point Pleasant Beach. The buyer, 604 Richmond, and the seller, PSIX Inc, have made a strategic move by engaging Jarrad Coletta as their representative in this thriving real estate transaction.

Players

Jarrad Coletta
10 deals$15.1M volume
BROKER

Details

SOLD
IMAGE: Jarrad Coletta DATE: 10/28/2022 ADDRESS: 604 Richmond Ave MARKET: Point Pleasant Beach ASSET TYPE: Mixed-use BUYER: 604 Richmond SELLER: PSIX Inc BROKER: Jarrad Coletta (@JarradColetta) - Coletta Commercial Realty (@Coletta_Commercial), (@ColettaCommercialRealty) SALE PRICE: $1,150,000 SF: 6,800 ~ PPSF: $169

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Deal Type
Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,085.72
Cash-on-Cash Return-1.27%
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