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2601 Educational Ln

 Acquires Retail Property In Manasquan From Peter Longo
SOLDRetail

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

Frank Henry

Brokers Network

Broker

$6.3M

vol

2 deals

Broker

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