Updated Oct 29, 2024
NWR Realty Corp. Converts Englewood Retail Building, Seller's Rep Pablo Castro
491 Grand Ave, Englewood, NJ, 07631
Building Size
3,321 SF
Asset Type
Retail
Closing
Nov 22, 2023
About this deal
AI
The property involved in the transaction is a 3,321-square-foot retail building located at 491 Grand Ave, Englewood, NJ, 07631. The asset is directly across the Hudson River from The Bronx and consists of two retail storefronts on the main level along with a two-bedroom apartment on the second floor. The building is currently unoccupied. The price of the sale was undisclosed.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Undisclosed
- Address: 491 Grand Ave, Englewood, NJ, 07631
- Market: Englewood
- Seller's Representative: Pablo Castro - NAI Capital
- Buyer: NWR Realty Corp.
- Square Footage: 3,321
Pablo Castro of NAI Hanson represented the seller, 491 Grand Avenue LLC, in this transaction. The buyer, NWR Realty Corp., plans to convert the retail space into offices for its business.
Players
Englewood 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93