Michael Botton Acquires Retail Property In Blackwood, NJ For $2.6M
1331 Little Gloucester Road
$2,600,000
$684/SF
Building Size
3,800 SF
Asset Type
Retail
Closing
Sep 22, 2023
AI
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.
Players
Clementon 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