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604 Richmond Avenue

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

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.

Players

Jarrad Coletta

Coletta Commercial Realty

Broker

$15.1M

vol

10 deals

Broker

Point Pleasant Beach Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

Loading comparables…

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