Paramount Realty Acquires Retail Property On US Route 22 In Union, NJ For $650K
2210 Us Route 22
$650,000
$19/SF
Building Size
34,000 SF
Asset Type
Retail
Closing
Sep 20, 2023
AI
A retail property located at 2210 US Route 22 in Union, NJ has been sold for a total price of $650,000. The property spans across 34,000 square feet, resulting in a price per square foot of $19. The transaction took place on 09/20/2023. Allie Beyda from Metropolitan Skyline Realty served as the broker representing both the buyer and the seller in this deal. The buyer, Paramount Realty, was represented by Maurice Zekaria, while the seller, Speedway, was represented by Tim Griffith.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $650,000
- Square Footage: 34,000
- Price Per Square Foot: $19
- Transaction Date: 09/20/2023
- Buyer: Paramount Realty - Maurice Zekaria
- Seller: Speedway - Tim Griffith
- Broker: Allie Beyda - Metropolitan Skyline Realty
Paramount Realty, led by Maurice Zekaria, successfully acquired the retail property located at 2210 US Route 22 in Union, NJ. The property, measuring 34,000 square feet, was sold by Speedway, represented by Tim Griffith. Allie Beyda from Metropolitan Skyline Realty served as the broker in this transaction, facilitating the deal between the buyer and the seller.
Players
Market 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
24.40%
Cash-on-Cash
-6.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93