Marcus & Millichap Facilitates Sale Of Mixed-Use Building In North Bergen For $2M
8201 Bergenline Avenue
$2,000,000
$246/SF
Building Size
8,100 SF
Asset Type
Mixed-use
Closing
Feb 27, 2024
AI
An 8,100-square-foot mixed-use building located at 8201 Bergenline Avenue in North Bergen was recently sold for $2 million. The property consists of four residential apartments and two retail units, offering a prime location near major transportation hubs and scenic views of New York City.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $2,000,000
- Units: 6
- Price Per Unit: $333,333
- Square Footage: 8,100
- Price Per Square Foot: $247
- Market: North Bergen
- Brokers: Alan Cafiero, Brent Hyldahl, Devin Perez, Eve Parker & Jonathan Zamora - Marcus & Millichap
The sale was facilitated by Marcus & Millichap, with a local buyer swiftly closing the deal amidst high demand for mixed-use properties in Hudson County. The attractive features of the property, including its location near transportation hubs and stunning views of New York City, contributed to the successful transaction.
Players
North Bergen 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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93