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465 479 Us Route 46

Michael Ozger And David Ozger Acquire Retail Property In Wayne For $7.8M From Seller Umesh Advaney
SOLDRetail

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:

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

CJ Huter

VanRockCRE

Broker

$119.7M

vol

25 deals

Broker

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