Stephen Cheung Acquires Retail Property In Manville For $4.4M With Reps DiFranco & Lombardi
SOLD
$4,400,000
New Jersey
See Similar DealsRetail13,827 SF
Sold 05/26/2023
SOLD
Stephen Cheung Acquires Retail Property In Manville For $4.4M With Reps DiFranco & Lombardi
321 S Main St Manville, NJ 08835, USA
See Similar DealsRetail13,827 SF
Sold 05/26/2023
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$318
Total Square Footage:13,827 SF
Transaction Type:Sale
The retail property located at 321 South Main Street in Manville has been sold in a closed transaction. The property spans 13,827 square feet and was sold for a price of $4,400,000, resulting in a price per square foot of $318. The transaction took place on May 26, 2023.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,400,000
Stephen Cheung purchased the property from Jerry Johnson. The deal was facilitated by brokers Rob DiFranco and Michael "Mike" Lombardi from Horvath & Tremblay.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$234,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,632.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,858.24
Annual Debt Service$250,298.94
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