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Sophisticated Hearing, LLC Acquires Retail Property On N Maple Ave, Ridgewood NJ

Property Image
SOLD
$950,000
Matt Grundy
Christopher Lama

New Jersey

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Retail2,600 SF
Sold 12/30/2021
the dealplayerscompscontact
Property Image
SOLD

Sophisticated Hearing, LLC Acquires Retail Property On N Maple Ave, Ridgewood NJ

531 North Maple Avenue, Ridgewood, New Jersey 07450, United States

See Similar Deals
Retail2,600 SF
Sold 12/30/2021
Matt Grundy
Christopher Lama
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$365
Total Square Footage:2,600 SF
Transaction Type:Sale

Located at 531 N Maple Ave in Ridgewood, NJ, this retail property was recently sold. The transaction took place on December 30, 2021, with a sale price of $950,000. The property spans across 2,600 square feet, resulting in a price per square foot of $365.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $950,000
  • Address: 531 N Maple Ave, Ridgewood, NJ
  • Square Footage: 2,600
  • Price per Square Foot: $365
  • Buyer: Sophisticated Hearing, LLC
  • Seller: Blue Foundry Bank
  • Buyer's Representative: Chris Lama - NY Urban Real Estate Investments, Inc.
  • Seller's Representative: Matt Grundy - Ripco Real Estate, LLC

The buyer of this retail property was Sophisticated Hearing, LLC, while the seller was Blue Foundry Bank. Representing the buyer was Chris Lama from NY Urban Real Estate Investments, Inc., and representing the seller was Matt Grundy from Ripco Real Estate, LLC.

Players

Christopher Lama
Christopher Lama
2 deals$2M volume
BROKER
Matt Grundy
Ripco
Matt Grundy
5 deals$4.9M volume(201) 777-2300
BROKER

Details

SOLD
IMAGE: Matt Grundy DATE: 12/30/2021 ADDRESS: 531 N Maple Ave MARKET: Ridgewood NJ ASSET TYPE: Retail BUYER: Sophisticated Hearing, LLC SELLER: Blue Foundry Bank BUYER'S REP: Chris Lama - NY Urban Real Estate Investments, Inc. SELLER'S REP: Matt Grundy (@MattGrundyCRE) - Ripco Real Estate, LLC SALE PRICE: $950,000 SF: 2,600 ~ PPSF: $365

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$50,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,375.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,503.48
Annual Debt Service$54,041.82