Jason Petrick Of Marcus & Millichap Represents Buyer In Sale Of Strathmore Property For $2.1M
1147 Nj-34, Strathmore, NJ, 07747
$2,100,000
$621/SF
Building Size
3,378 SF
Asset Type
Retail
Closing
Nov 20, 2023
AI
The property involved in this transaction is a retail asset located at 1147 Nj-34, Strathmore, NJ, 07747. It is net-leased to Amboy Bank and encompasses a total square footage of 3,378. The transaction was completed for a price of $2,100,000. The market for this property is identified as Matawan.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,100,000.00
- Address: 1147 Nj-34, Strathmore, NJ, 07747
- Square Footage: 3,378
- Market: Matawan
- Buyer's Representative: Jason Petrick - Marcus & Millichap
- Buyer: Unknown
- Buyer Type: Out-of-state 1031 exchange buyer
- Deal Type: All-cash
Jason Petrick of Marcus & Millichap represented the buyer, a limited liability company, in this all-cash deal. The property is situated as an outparcel to a retail center anchored by grocer Stop & Shop in Aberdeen, a southern suburb of New York City.
Matawan 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
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93