Updated Dec 4, 2024
George Pavlushkin Of The ELITE Group At RE/MAX Central Facilitates Sale Of Flemington Retail Center For $3.2M
257 US Route 202
$3,200,000
$160/SF
Building Size
20,000 SF
Asset Type
Retail
Closing
Oct 4, 2024
About this deal
AI
This retail asset located at 257 US Route 202 in Flemington features a total area of 20,000 square feet and was sold for $3,200,000. The property consists of a shopping center with 6 units and is generating an annual revenue of $360,000, providing a price per square foot of $160.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,200,000
- Square Footage: 20,000
- Price Per Square Foot: $160
- Annual Revenue: $360,000
- Broker: George Pavlushkin - The ELITE Group at RE/MAX Central
The deal was facilitated by George Pavlushkin, representing the interests of the investors who acquired the property. Notably, the clients saved $300,000 off the asking price in this transaction, highlighting the efficiency and effectiveness of the brokerage in closing this deal.
Players
Flemington 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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93