Updated Sep 9, 2024
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
Asbury Park 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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93