Paramount Realty Services Acquires Retail Property In West Long Branch, NJ For $63M
SOLD
$63,000,000
New Jersey
See Similar DealsRetail293,087 SF
Sold 12/01/2022
SOLD
Paramount Realty Services Acquires Retail Property In West Long Branch, NJ For $63M
310 Route 36,West Long Branch, NJ 07764, USA
See Similar DealsRetail293,087 SF
Sold 12/01/2022
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$215
Total Square Footage:293,087 SF
Transaction Type:Sale
The retail property located at 310 Route 36 in West Long Branch, NJ has been sold. The transaction took place on 12/01/2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $63,000,000
- Square Footage: 293,087
- Price per Square Foot: $215
- Address: 310 Route 36, West Long Branch, NJ
- Market: West Long Branch, NJ
The buyer of the property was Paramount Realty Services, while the seller was Site Centers. The transaction was facilitated by Brad Nathanson from Institutional Property Advisors, which is part of Marcus & Millichap.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,360,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$223,825.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$298,652.14
Annual Debt Service$3,583,825.69
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