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

Property Image
SOLD
$650,000

New Jersey

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Retail34,000 SF
Sold 09/20/2023
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Property Image
SOLD

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

2210 Us Route 22

See Similar Deals
Retail34,000 SF
Sold 09/20/2023
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Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$19
Total Square Footage:34,000 SF
Transaction Type:Sale

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
16 deals$4.8M volume
BROKER


SELLER

Details

SOLD
IMAGE: Allie Beyda DATE: 09/20/2023 ADDRESS: 2210 US Route 22 MARKET: Union, NJ ASSET TYPE: Retail BUYER: Paramount Realty - Maurice Zekaria SELLER: Speedway - Tim Griffith BROKER: Allie Beyda (@alliebeyda24) - Metropolitan Skyline Realty SALE PRICE: $650,000 SF: 34,000 ~ PPSF: $19

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

$34,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$2,309.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,081.33
Annual Debt Service$36,975.98