facebook
Traded Co logo
Submit

Becker Organization Acquires Retail Property In North Wildwood For $4.75 Million

Property Image
SOLD
$4,750,000

New Jersey

See Similar Deals
Retail23,466 SF
Sold 09/19/2024
the dealplayerscompscontact
Property Image
SOLD

Becker Organization Acquires Retail Property In North Wildwood For $4.75 Million

2500 Delaware Avenue

See Similar Deals
Retail23,466 SF
Sold 09/19/2024
Contact now

Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$202
Total Square Footage:23,466 SF
Transaction Type:Sale

The asset involved in the transaction is located at 2500 Delaware Avenue in North Wildwood, and it is classified as retail space. The sale price of the property was $4,750,000, encompassing a total square footage of 23,466, which equates to a price per square foot of $202.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $4,750,000
  • Square Footage: 23,466
  • Price per Square Foot: $202
  • Buyer: Bryan Becker, Joseph Zito, Scott Glauberg & Jon D'Aversa - The Becker Organization
  • Seller: Wildwood Investment Group
  • Seller's Representative: Michael Hinchman & Lawrence Gariano - Graystone Capital Advisors

The buyer group is represented by The Becker Organization, consisting of Bryan Becker, Joseph Zito, Scott Glauberg, and Jon D’Aversa. The seller, Wildwood Investment Group, is represented by Michael Hinchman and Lawrence Gariano from Graystone Capital Advisors. The property currently features a 7,070 square foot end cap vacancy that is available for lease, which can be leased as a whole or subdivided.

Players

Lawrence Gariano
3 deals$23.8M volume
BROKER

Michael Hinchman
Marcus & Millichap
3 deals$23.8M volume
BROKER

Details

SOLD
IMAGE: Bryan Becker, Scott Glauberg, Joseph Zito & Jon D’Aversa DATE: 09/19/2024 ADDRESS: 2500 Delaware Avenue MARKET: North Wildwood ASSET TYPE: Retail BUYER: Bryan Becker (@BBex1), Joseph Zito (@The1Jaz), Scott Glauberg (@SGlauberg) & Jon D'Aversa - The Becker Organization (@TheBeckerOrg) SELLER: Wildwood Investment Group SELLER'S REP: Michael Hinchman & Lawrence Gariano - Graystone Capital Advisors (@Graystone_Cap) SALE PRICE: $4,750,000 SF: 23,466 ~ PPSF: $202 NOTE FROM BUYER: The property currently has a 7,070 SF end cap vacancy available for lease in whole or subdivided.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$253,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$16,875.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,517.42
Annual Debt Service$270,209.08