Steven Haddad Purchases Office Building In Tinton Falls From Lucas Construction For $3,170,000
SOLD
$3,170,000
New Jersey
See Similar DealsOffice15,000 SF
Sold 11/10/2023
SOLD
Steven Haddad Purchases Office Building In Tinton Falls From Lucas Construction For $3,170,000
2 Hance Avenue
See Similar DealsOffice15,000 SF
Sold 11/10/2023
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$211
Total Square Footage:15,000 SF
Transaction Type:Sale
The office located at 2 Hance Avenue in Tinton Falls, NJ, was sold in a transaction that closed on November 10, 2023. The property spans 15,000 square feet and was sold for $3,170,000, resulting in a price per square foot of $211.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,170,000
- Buyer: Steven Haddad
- Seller: Lucas Construction
- Broker: Steven Richel - Richel Commercial Brokerage
Steven Haddad acquired the office property at 2 Hance Avenue in Tinton Falls, NJ, with the assistance of Steven Richel from Richel Commercial Brokerage. The seller in this transaction was Lucas Construction.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$169,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,262.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,027.42
Annual Debt Service$180,329.01
Is there something missing? Send suggestions