Acquires Retail Property In Manasquan From Peter Longo
2601 Educational Ln
$4,210,000
$421/SF
Building Size
10,000 SF
Asset Type
Retail
Closing
Mar 18, 2024
AI
The retail property located at 2601 in Manasquan, NJ, was sold for a total amount of $4,210,000. The property spans 10,000 square feet, resulting in a price per square foot of $421. The transaction took place on March 18, 2024, with purchasing the property from Peter Longo of LT Totowa Enterprise, . Frank Henry of Brokers Network facilitated the deal.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,210,000
- Address: 2601
- Market: Manasquan, NJ
- SF: 10,000
- PPSF: $421
- Buyer:
- Seller: Peter Longo - LT Totowa Enterprise,
- Broker: Frank Henry - Brokers Network
The transaction involved notable entities such as as the buyer and Peter Longo representing LT Totowa Enterprise, as the seller. The deal was successfully closed with the assistance of Frank Henry from Brokers Network.
Players
Manasquan 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
3.77%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93