Wes Elizabeth Acquires Industrial Warehouse At 615 West Elizabeth Avenue From John Billick For $975,000
615 West Elizabeth Avenue
$805,000
$80/SF
Building Size
10,000 SF
Asset Type
MultiFamily
Closing
Nov 25, 2024
AI
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:
- Property Type: Industrial/Warehouse
- Transaction Amount: $975,000
- Address: 615 West Elizabeth Avenue
- Market: Linden
- Square Footage: 10,000
- Price Per Square Foot: $98
- Buyer: Wes Elizabeth
- Seller: John Billick
- Brokers: Joseph Spinella, Devin Foderaro & Cole Malinowski - KW Commercial; Henry Eisenstein - EXP Realty
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
Linden MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
19.71%
Cash-on-Cash
-5.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93