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117 E State Rt 4, Paramus, ...

East 123 Route 4 LLC Acquires Retail Property In Paramus, NJ For $1.87M
SOLDRetail

East 123 Route 4 LLC Acquires Retail Property In Paramus, NJ For $1.87M

117 E State Rt 4, Paramus, New Jersey 07652, United States

$1,870,000

$287/SF

Building Size

6,500 SF

Asset Type

Retail

Closing

Jan 23, 2022

AI

The retail property located at 117 Route 4 W. in Paramus, NJ was recently sold in a transaction. The property spans approximately 6,500 square feet and was sold for a price of $1,870,000. The sale price equates to a price per square foot of $288. The transaction took place on January 24, 2022.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,870,000
  • Address: 117 Route 4 W., Paramus, NJ
  • Market: Paramus, NJ

The buyer of the property is East 123 Route 4 LLC, while the seller is 117 E Route 4 West LLC. Bobby Antonicello Jr. and Mirlinda Erbeli from Grid Real Estate LLC represented the buyer in the deal, while Davis Briones from The Kislak Company represented the seller.

It is worth noting that the transaction was completed with an all-cash payment. Davis Briones from The Kislak Company Inc. represented the seller, and Bobby Antonicello Jr. and Mirlinda Erbeli from Grid Real Estate LLC represented the buyer.

Players

Bobby Antonicello Jr., CCIM

Grid Real Estate

Broker

$250.4M

vol

19 deals

Broker

Paramus 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

8.48%

Cash-on-Cash

-2.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93