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Luko Management Acquires Retail Property In Belleville, NJ For $9.05M

Property Image
SOLD
$9,050,000
Bosko Stankovic
Mike Milano
+ 1

New Jersey

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Retail14,500 SF
Sold 08/17/2021
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Property Image
SOLD

Luko Management Acquires Retail Property In Belleville, NJ For $9.05M

175 Washington Avenue, Belleville, NJ 07109, USA

See Similar Deals
Retail14,500 SF
Sold 08/17/2021
Bosko Stankovic
Mike Milano
+ 1
Contact now

Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$624
Total Square Footage:14,500 SF
Transaction Type:Sale

Located at 175 Washington Ave in Belleville, NJ, this retail property was recently sold in a closed transaction. The property encompasses 14,500 square feet and was sold for a total price of $9,050,000, resulting in a price per square foot of $624. The sale took place on August 17, 2021. The asset was acquired by Luko Management from the seller, Win Belleville, LLC. The transaction was facilitated by several brokers, including Niko Micin, CCIM from Zebra Capital, Mike Milano and Jereme Snyder from Colliers, and Bosko Stankovic from Zebra Capital LLC.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $9,050,000
  • Address: 175 Washington Ave, Belleville, NJ
  • Market: Belleville, NJ

The retail property at 175 Washington Ave in Belleville, NJ was successfully sold to Luko Management for a total price of $9,050,000. The transaction involved multiple brokers, including Niko Micin from Zebra Capital, and Mike Milano along with Jereme Snyder from Colliers. Bosko Stankovic, representing Zebra Capital LLC, was also involved in the deal. The property spans 14,500 square feet and the price per square foot came out to be $624.

Players

Jereme Snyder
4 deals$46.3M volume
BROKER

Mike Milano
Colliers
5 deals$92M volume
BROKER

Bosko Stankovic
3 deals$18.3M volume(646) 416-2042
BROKER

Niko Micin
3 deals$18.3M volume
BROKER

BUYER

Details

SOLD
IMAGE: Bosko Stankovic & Niko Micin DATE: 08/17/2021 ADDRESS: 175 Washington Ave MARKET: Belleville, NJ ASSET TYPE: Retail BUYER: Luko Management SELLER: Win Belleville, LLC BROKERS: Niko Micin, CCIM - Zebra Capital; Mike Milano & Jereme Snyder - Colliers; Bosko Stankovic Zebra Capital LLC (@zebra_net_lease) SALE PRICE: $9,050,000 SF: 14,500 ~ PPSF: $624

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$32,152.75
Cash-on-Cash Return-1.27%
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