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387 Passaic Avenue, Fairfie...

Cushman & Wakefield Brokers Sell Retail Property In Fairfield For $4.6M
SOLDRetail

Cushman & Wakefield Brokers Sell Retail Property In Fairfield For $4.6M

387 Passaic Avenue, Fairfield Township, New Jersey 07004, United States

$4,600,000

$1,008/SF

Building Size

4,560 SF

Asset Type

Retail

Closing

Jan 25, 2022

AI

A retail property located at 387 Passaic Ave in Fairfield has been sold for a price of $4,600,000. The property spans 4,560 square feet with a price per square foot of $1,009.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $4,600,000
  • Address: 387 Passaic Ave, Fairfield
  • Market: Fairfield

The seller of the property was Indian Ridge Investments LLC. The deal was facilitated by the brokers Andy Merin, Brian Whitmer, Andy Schwartz, Jordan Sobel, and André Balthazard from Cushman & Wakefield.

Players

Andrew Merin

Cushman & Wakefield

Broker

$3.1B

vol

35 deals

Broker

Fairfield 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

3.45%

Cash-on-Cash

-0.99%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93