Coletta Commercial Realty Brokers $1.15M Mixed-Use Sale In Point Pleasant Beach
604 Richmond Avenue
$1,150,000
$169/SF
Building Size
6,800 SF
Asset Type
Mixed-use
Closing
Oct 28, 2022
AI
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.
Point Pleasant Beach 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
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93