Updated Dec 4, 2024
Carlos Beltran Brokers $2.05M Sale Of Mixed-use Property On Wilson Avenue In Newark, NJ
68-76 Wilson Avenue
$2,050,000
$379/SF
Building Size
5,403 SF
Asset Type
Mixed-use
Closing
Nov 8, 2023
About this deal
AI
Located in the Ironbound section of Newark, 68-76 Wilson Avenue is a mixed-use building that offers a development opportunity. The property is currently configured as a restaurant and office space, making it a versatile asset. With a spacious area of 5,403 square feet, this property provides ample room for various business ventures. The property was sold for $2,050,000, at a price per square foot of $379. The deal was brokered by Carlos Beltran from Compass RE.
Summary of transaction details:
- Property Type: Mixed-use
- Asking Price: $2,300,000
- Sale Price: $2,050,000
- Square Footage: 5,403
- Price per Square Foot: $379
- Address: 68-76 Wilson Avenue, Newark, NJ
- Market: Newark, NJ
Carlos Beltran from Compass RE played a key role in brokering this deal. His expertise and representation ensured the successful transaction of 68-76 Wilson Avenue. His involvement highlights the significance of his skills in the real estate market.
Players
Newark 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
7.74%
Cash-on-Cash
-2.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93