Arvand Patel Acquires Freehold Retail Property For $4.15M Via KW Commercial & EXP Realty
SOLD
$4,150,000
New Jersey
See Similar DealsRetail5,700 SF
Sold 06/28/2024
SOLD
Arvand Patel Acquires Freehold Retail Property For $4.15M Via KW Commercial & EXP Realty
3275 US Route 9
See Similar DealsRetail5,700 SF
Sold 06/28/2024
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$728
Total Square Footage:5,700 SF
Transaction Type:Sale
The property involved in this transaction is a retail asset located at 3275 Us Route 9 in Freehold. The property spans 5,700 square feet and was sold for $4,150,000, translating to a price per square foot of $728.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,150,000
- Buyer: Arvand Patel
- Seller: Steven Norkus
- Brokers: Joseph Spinella & Cole Malinowski - KW Commercial; Henry Eisenstein - EXP Realty
The transaction involved the sale of a Liquor Store along with the real estate. Joseph Spinella and Cole Malinowski from KW Commercial, in collaboration with Henry Eisenstein from EXP Realty, represented the parties in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$221,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,744.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,673.12
Annual Debt Service$236,077.41
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