Michael Botton Acquires Retail Property In Blackwood, NJ For $2.6M
SOLD
$2,600,000
New Jersey
See Similar DealsRetail3,800 SF
Sold 09/22/2023
SOLD
Michael Botton Acquires Retail Property In Blackwood, NJ For $2.6M
1331 Little Gloucester Road
See Similar DealsRetail3,800 SF
Sold 09/22/2023
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$684
Total Square Footage:3,800 SF
Transaction Type:Sale
A car wash and land in Blackwood, NJ have been sold for a total of $2,600,000. The property, located at 1331 Little Gloucester Road, is a retail asset with a total square footage of 3,800. This transaction was brokered by Joseph Spinella and Dan Keenan of KW Commercial. The sale price per square foot amounts to $684.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $2,600,000
- Square Footage: 3,800
- Price Per Square Foot: $684
- Address: 1331 Little Gloucester Road, Blackwood, NJ
- Market: Blackwood, NJ
- Buyer: Michael Botton
- Seller: Jay Kolinsky Co
- Brokers: Joseph Spinella & Dan Keenan
The buyer in this transaction was Michael Botton, while Jay Kolinsky Co acted as the seller. Joseph Spinella and Dan Keenan, both representing KW Commercial, served as brokers in this deal. Joseph Spinella, the Director of Commercial Real Estate for Monmouth/Ocean, brokered the car wash and land sale. This transaction marks a successful business collaboration between the involved parties.
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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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