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Educational Lane, LLC Acquires Retail Property In Manasquan From Peter Longo

Property Image
SOLD
$4,210,000

New Jersey

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Retail10,000 SF
Sold 03/18/2024
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Property Image
SOLD

Educational Lane, LLC Acquires Retail Property In Manasquan From Peter Longo

2601 Educational Ln

See Similar Deals
Retail10,000 SF
Sold 03/18/2024
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Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$421
Total Square Footage:10,000 SF
Transaction Type:Sale

The retail property located at 2601 Educational Lane 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 Educational Lane, LLC purchasing the property from Peter Longo of LT Totowa Enterprise, LLC. Frank Henry of Brokers Network facilitated the deal.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $4,210,000
  • Address: 2601 Educational Lane
  • Market: Manasquan, NJ
  • SF: 10,000
  • PPSF: $421
  • Buyer: Educational Lane, LLC
  • Seller: Peter Longo - LT Totowa Enterprise, LLC
  • Broker: Frank Henry - Brokers Network

The transaction involved notable entities such as Educational Lane, LLC as the buyer and Peter Longo representing LT Totowa Enterprise, LLC as the seller. The deal was successfully closed with the assistance of Frank Henry from Brokers Network.

Players

2 deals$6.3M volume
BROKER

Details

SOLD
IMAGE: Frank Henry DATE: 03/18/2024 ADDRESS: 2601 Educational Lane MARKET: Manasquan, NJ ASSET TYPE: Retail BUYER: Educational Lane, LLC SELLER: Peter Longo - LT Totowa Enterprise, LLC BROKER: Frank Henry - Brokers Network SALE PRICE: $4,210,000 SF: 10,000 ~ PPSF: $421

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

$224,533.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,957.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,957.55
Annual Debt Service$239,490.57