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2210 Us Route 22

Paramount Realty Acquires Retail Property On US Route 22 In Union, NJ For $650K
SOLDRetail

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

Allie Beyda

BH Realty

Broker

$4.8M

vol

16 deals

Broker

Maurice Zekaria

Paramount Realty

Buyer

$9.4M

vol

3 deals

Buyer
S
SpeedwaySeller

Market Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

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