John Hanikeh Acquires Retail Property In Paramus From Andy Marks & Marks Realty For $3.15M
SOLD
$3,150,000
New Jersey
See Similar DealsRetail12,400 SF
Sold 10/24/2024
SOLD
John Hanikeh Acquires Retail Property In Paramus From Andy Marks & Marks Realty For $3.15M
42 New Jersey Highway 17
See Similar DealsRetail12,400 SF
Sold 10/24/2024
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$254
Total Square Footage:12,400 SF
Transaction Type:Sale
The property asset involved in this transaction is located at 42 New Jersey Highway 17 in Paramus, NJ. This retail space has a total area of 12,400 square feet and was sold for a price of $3,150,000, resulting in a price per square foot of $254.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,150,000
- Square Footage: 12,400
- Price per Square Foot: $254
- Buyer: John Hanikeh
- Seller: Andy Marks & Marks Realty
- Brokers: Lew Finkelstein, Marc Palestina & CJ Huter - The Goldstein Group
- Date of Transaction: 10/24/2024
The transaction was facilitated by brokers Lew Finkelstein, Marc Palestina, and CJ Huter from The Goldstein Group, representing both the buyer and seller throughout the deal. Their involvement was crucial in navigating the particulars of this retail property transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$168,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,191.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,932.61
Annual Debt Service$179,191.28
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