Private Investor Acquires Property On St George Ave Woodbridge For $2.6M With Seller's Rep Jason Petrick
1144 Saint Georges Avenue
$2,600,000
$162/SF
Building Size
16,050 SF
Asset Type
Retail
Closing
Mar 6, 2019
AI
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.
Avenel Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93