Private Investor Acquires Property On St George Ave Woodbridge For $2.6M With Seller's Rep Jason Petrick
SOLD
$2,600,000
New Jersey
See Similar DealsRetail16,050 SF
Sold 03/06/2019
SOLD
Private Investor Acquires Property On St George Ave Woodbridge For $2.6M With Seller's Rep Jason Petrick
1144 Saint Georges Avenue
See Similar DealsRetail16,050 SF
Sold 03/06/2019
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$162
Total Square Footage:16,050 SF
Transaction Type:Sale
The transaction involved the sale of St. George Plaza, a retail property located at 1144-1162 St Georges Ave, Avenel, N.J. The price of the property was $2,600,000.00, and it encompasses a total area of 16,050 square feet. The property is anchored by well-known tenants UPS and H&R Block.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,600,000.00
- Square Footage: 16,050
- Address: 1144-1162 St George Ave, Avenel, N.J.
- Seller's Representative: Jason Petrick - Marcus & Millichap
- Buyer: Private Investor
The seller in this transaction was the original developer of the property, represented by Jason Petrick, who is affiliated with Marcus & Millichap's New Jersey office. The buyer, described as an out-of-state investor, completed the acquisition in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$138,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92
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