Kislak Brokers Facilitate $4.3M Sale Of Mixed-Use Property On Market Street In Passaic

The mixed-use property located at 87-91 Market Street in Passaic has been sold for $4,300,000. This transaction marks one of the highest prices per unit in Passaic, with each of the 13 units selling for an average price of $330,769. The property spans across 28,000 square feet, resulting in a price per square foot of $154. The sale yielded a cap rate above 6.5%, indicating a favorable return on investment.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $4,300,000
• Units: 13
• Price per Unit: $330,769
• Square Feet: 28,000
• Price per Square Foot: $154
• Market: Passaic

The sale of this property was facilitated by Daniel Lanni and Robert Squires of Kislak, who provided their expertise and utilized their broad client database to secure a successful transaction. By exclusively representing the seller, Lanni and Squires were able to generate multiple offers and guide the process from start to finish, resulting in the highest and best price for the property.