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Mixed Use

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700 Main Street

Updated Sep 9, 2024

Kislak Sells Mixed-Use Property On Main Street In Asbury Park For $2.2M
SOLDMixed-use

Kislak Sells Mixed-Use Property On Main Street In Asbury Park For $2.2M

700 Main Street

$2,200,000

$666/SF

Building Size

3,300 SF

Asset Type

Mixed-use

Closing

Dec 27, 2022

About this deal

AI

A mixed-use property located at 700 Main Street in Asbury Park has been sold in a recent transaction. The property spans 3,300 square feet and was sold for a total price of $2,200,000, resulting in a price per square foot of $667. The property consists of four units, with each unit having a price per unit of $550,000.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,200,000
  • Square Feet: 3,300
  • Price per Square Foot: $667
  • Address: 700 Main Street, Asbury Park
  • Number of Units: 4
  • Price per Unit: $550,000

The sale was facilitated by Daniel Lanni from Kislak. He represented the parties involved in the transaction and played a crucial role in ensuring a successful deal.

Players

Daniel Lanni

Kislak

Broker

$188.4M

vol

37 deals

Broker

Asbury Park Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $666 per square foot on a published $2.2M for 3,300 square feet (2022).

Visit Daniel Lanni to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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