Michael Ozger And David Ozger Acquire Retail Property In Wayne For $7.8M From Seller Umesh Advaney
465 479 Us Route 46
$7,800,000
$114/SF
Building Size
68,000 SF
Asset Type
Retail
Closing
May 19, 2025
AI
The property asset involved in the transaction is a retail space located at 465-479 US Route 46 in Wayne. The total sale price for the property was $7,800,000, comprising a land area of 3.25 acres and a building size of 68,000 square feet, resulting in a price per square foot of $114.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,800,000
- Address: 465-479 US Route 46
- Market: Wayne
- Acres: 3.25
- Square Footage: 68,000
- Price per Square Foot: $114
- Buyer: Michael Ozger & David Ozger
- Seller: Umesh Advaney
- Broker Representatives: Lew Finkelstein, CJ Huter & Marc Palestina - The Goldstein Group
Michael Ozger and David Ozger acquired the property from Umesh Advaney, with the transaction facilitated by brokers Lew Finkelstein, CJ Huter, and Marc Palestina of The Goldstein Group, representing both the buyer and the seller in this retail transaction.
Players
Wayne 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
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93