Arvand Patel Acquires Freehold Retail Property For $4.15M Via KW Commercial & EXP Realty
3275 US Route 9
$4,150,000
$728/SF
Building Size
5,700 SF
Asset Type
Retail
Closing
Jun 28, 2024
AI
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.
Players
Freehold 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
3.82%
Cash-on-Cash
-1.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93