Updated Oct 29, 2024
FCA Acquires Retail Property On Morris Ave, Union, NJ For $1.1M
1929 Morris Ave, Union, NJ, 07083
$1,100,000
$149/SF
Building Size
7,360 SF
Asset Type
Retail
Closing
Nov 20, 2023
About this deal
AI
The retail property located at 1929 Morris Ave, Union, NJ, 07083 has been sold for $1.1 million. The property features 7,360 square feet of retail space. The deal was facilitated by Marcus & Millichap, with Michael Lombardi and Marc Karlin representing both the buyer and the seller, a private investor.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,100,000.00
- Market: Union
- Buyer: FCA
- Buyer's Rep: Marc Karlin (Marcus & Millichap), Michael "Mike" Lombardi (Horvath & Tremblay)
The key individuals involved in this transaction were Marc Karlin from Marcus & Millichap and Michael "Mike" Lombardi from Horvath & Tremblay. The deal was between a private investor, who was both the buyer and seller, selling the retail property in Union, NJ.
Players
Union 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
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93