Premier Retail Equities Acquires Retail Property In Bridgewater, NJ For $8.2M
SOLD
$8,200,000
New Jersey
See Similar DealsRetail41,589 SF
Sold 02/14/2024
SOLD
Premier Retail Equities Acquires Retail Property In Bridgewater, NJ For $8.2M
1329 Prince Rodgers Avenue
See Similar DealsRetail41,589 SF
Sold 02/14/2024
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$197
Total Square Footage:41,589 SF
Transaction Type:Sale
The retail property located at 1329 Prince Rodgers Avenue in Bridgewater, NJ, was recently sold for $8,200,000. The asset spans 41,606 square feet, resulting in a price per square foot of $197.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,200,000
- Buyer: Danny Betesh, Joseph Betesh & Eli Dweck - Premier Retail Equities
- Seller: Not Specified
- Broker: Darren Lizzack - NAI James E. Hanson
- Market: Bridgewater, NJ
Danny Betesh, Joseph Betesh, and Eli Dweck, representing Premier Retail Equities, acquired the shopping center as part of their strategy to invest in value-add shopping centers nationwide. Their broker, Darren Lizzack of NAI James E. Hanson, facilitated the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$437,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,132.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,872.18
Annual Debt Service$466,466.20
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