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Wes Elizabeth Acquires Industrial Warehouse At 615 West Elizabeth Avenue From John Billick For $975,000

Property Image
SOLD
$805,000
Henry Eisenstein
Cole Malinowski
+ 1

New Jersey

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MultiFamily10,000 SF
Sold 11/25/2024
the dealplayerscompscontact
Property Image
SOLD

Wes Elizabeth Acquires Industrial Warehouse At 615 West Elizabeth Avenue From John Billick For $975,000

615 West Elizabeth Avenue

See Similar Deals
MultiFamily10,000 SF
Sold 11/25/2024
Henry Eisenstein
Cole Malinowski
+ 1
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$80
Total Square Footage:10,000 SF
Transaction Type:Sale

The property involved in this transaction is an industrial/warehouse asset located at 615 West Elizabeth Avenue in the Linden market. It was sold for $975,000, encompassing a total square footage of 10,000, which translates to a price per square foot of $98.

Summary of transaction details:

The deal featured multiple brokers, including Joseph Spinella and Devin Foderaro from KW Commercial, alongside Cole Malinowski, and Henry Eisenstein from EXP Realty. Joseph Spinella serves as the Director of Commercial Real Estate at KW, and he has offered assistance for anyone needing commercial real estate services at the provided phone number 732-546-7501.

Players

Joseph Spinella
24 deals$55.7M volume(732) 546-7501
BROKER

Henry Eisenstein
EXP Realty
18 deals$64M volume(908) 216-6532
BROKER

Cole Malinowski
Keller Williams Realty
7 deals$16.1M volume(732) 861-4433
BROKER

Devin Foderaro
Keller Williams Realty
6 deals$10.7M volume(732) 998-1826
BROKER

Details

SOLD
IMAGE: Joseph Spinella, Cole Malinowski, Henry Eisenstein & Devin Foderaro DATE: 11/25/2024 ADDRESS: 615 West Elizabeth Avenue MARKET: Linden ASSET TYPE: Industrial/Warehouse BUYER: Wes Elizabeth SELLER: John Billick BROKERS: Joseph Spinella (@Joeyrealestatekw), Devin Foderaro (@DevinFod) & Cole Malinowski (@Cole.Mali) - KW Commercial (@KW_Commercial); Henry Eisenstein (@HenryEisenstein) - EXP Realty (@ExpRealty_) SALE PRICE: $975,000 SF: 10,000 ~ PPSF: $98 NOTE FROM BROKER: Joseph Spinella Director of Commercial Real Estate KW - Please reach out if you need Commercial Real Estate assistance 732-546-7501

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$42,933.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$2,860.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,816.11
Annual Debt Service$45,793.33