Benchmark Boats Acquires Mixed-Use Property In Brick, NJ For $1.4M
SOLD
$1,400,000
New Jersey
See Similar DealsMixed-use1,100 SF
Sold 03/10/2021
SOLD
Benchmark Boats Acquires Mixed-Use Property In Brick, NJ For $1.4M
664 Princeton Ave, Brick Township, NJ 08724, USA
See Similar DealsMixed-use1,100 SF
Sold 03/10/2021
Summary
NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$1,272
Total Square Footage:1,100 SF
Transaction Type:Sale
664 Princeton Avenue in Brick, NJ has been sold in a recent closed transaction. The property is a mixed-use asset.
Summary of transaction details:
- Property Type: Mixed-use
- Sale Price: $1,400,000
- Asking Price: $1,525,000
- Buyer: Benchmark Boats
- Seller: Bud Sherman
- Broker: Jarrad Coletta - Coletta Commercial
The buyer, Benchmark Boats, and the seller, Bud Sherman, completed the transaction for 664 Princeton Avenue. The deal was facilitated by Jarrad Coletta from Coletta Commercial. The sale price agreed upon was $1,400,000, while the initial asking price was $1,525,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$74,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,973.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,636.71
Annual Debt Service$79,640.57
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