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2252 Paterson-Hamburg Turnpike

Vladimir Vojnovski Purchases Retail Property From John And Marilyn Cicilini For $1.55M In Wayne
SOLDRetail

Vladimir Vojnovski Purchases Retail Property From John And Marilyn Cicilini For $1.55M In Wayne

2252 Paterson-Hamburg Turnpike

$1,550,000

$357/SF

Building Size

4,340 SF

Asset Type

Retail

Closing

Jul 28, 2024

AI

The property asset involved in this transaction is a retail site located at 2252 Paterson-Hamburg Turnpike in Wayne, valued at $1,550,000. The building encompasses a total area of 4,340 square feet, resulting in a price per square foot of $357. This recently constructed property houses three tenants, contributing to its steady cash flow in a robust retail market.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $1,550,000
  • Address: 2252 Paterson-Hamburg Turnpike
  • Market: Wayne
  • Square Footage: 4,340
  • Price Per Square Foot: $357
  • Buyer: Vladimir Vojnovski
  • Seller: John and Marilyn Cicilini
  • Broker: Patrick Varelas & Thomas Russo - The Chopper Russo - RE/MAX Select

The Chopper Russo Team at RE/MAX Select facilitated the transaction, successfully representing both the buyer and seller in the deal. Their expertise in the market was instrumental in navigating the complexities of this retail property sale.

Players

Patrick Varelas

Re/Max

Broker

$6.7M

vol

4 deals

Broker

Wayne 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

10.23%

Cash-on-Cash

-2.92%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93