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Michael Lombardi Of Horvath & Tremblay Brokers $4.36M Sale Of New Jersey Retail Properties

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SOLD
$4,355,000

New Jersey

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Retail
Sold 04/09/2026
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Property Image
SOLD

Michael Lombardi Of Horvath & Tremblay Brokers $4.36M Sale Of New Jersey Retail Properties

11 Paterson Avenue, 510 Central Avenue & 679 Bloomfield Avenue

See Similar Deals
Retail
Sold 04/09/2026
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Summary

NEW JERSEY
Asset Type:Retail
Transaction Type:Sale

The transaction involved three properties in New Jersey, including 11 Paterson Avenue, 510 Central Avenue & 679 Bloomfield Avenue. The total sale price was $4,355,000, with one of the notable sales being the Brownstone Mill retail center in Midland Park, which was fully leased and sold for $2,830,000. Additionally, a vacant building in Jersey City was sold for $740,000, and a mixed-use property in Verona for $790,000. The properties represent retail and mixed-use categories, reflecting ongoing interest in these asset types in suburban New Jersey.

Summary of transaction details:

  • Property Type: Retail & Mixed-use
  • Transaction Amount: $4,355,000
  • Properties Sold: 11 Paterson Avenue, 510 Central Avenue & 679 Bloomfield Avenue
  • Market: Midland Park, Jersey City & Verona
  • Broker: Michael Lombardi - Horvath & Tremblay

Michael Lombardi from Horvath & Tremblay was instrumental in brokering the sale, leading to a successful transaction that mirrors the steady demand for small-format retail and mixed-use assets in the area. The firm effectively managed the sale of all three properties, aligning the interests of buyers and sellers across the distinct market segments.

Players

Michael "Mike" Lombardi
29 deals$114.8M volume
BROKER

Details

SOLD
IMAGE: Michael Lombardi DATE: 04/09/2026 ADDRESS: 11 Paterson Avenue, 510 Central Avenue & 679 Bloomfield Avenue MARKET: Midland Park, Jersey City & Verona ASSET TYPE: Retail & Mixed-use BROKER: Michael Lombardi (@Mike_Lombardi_HT) - Horvath & Tremblay SALE PRICE: $4,355,000 NOTE: Horvath & Tremblay brokered the sale of three New Jersey properties totaling $4.36 million, led by the $2.83 million sale of the fully leased Brownstone Mill retail center in Midland Park.The firm also sold a vacant building in Jersey City for $740,000 and a mixed-use property in Verona for $790,000, reflecting steady investor demand for small-format retail and mixed-use assets across suburban New Jersey.

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

$232,266.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,472.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,644.92
Annual Debt Service$247,739.06