Marcus & Millichap Sells Lyndhurst Diner Redevelopment In Lyndhurst, New Jersey For $2.9M
540 Riverside Avenue
$2,900,000
Building Size
—
Asset Type
Retail
Closing
Oct 23, 2023
AI
A retail property located at 540 Riverside Avenue in Lyndhurst, New Jersey, has been sold for $2.9 million. The property spans 1.07 acres and is strategically positioned at a prime intersection in Bergen County. The sale attracted multiple developer bids and was ultimately acquired by an investor involved in a 1031 exchange.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $2,900,000
- Address: 540 Riverside Avenue, Lyndhurst, New Jersey
- Market: Lyndhurst, Bergen County
- Size: 1.07 acres
- Brokers: Alan Cafiero, David Cafiero, and John Moroz of Marcus & Millichap
Marcus & Millichap represented the sellers in the transaction. Alan Cafiero, David Cafiero, and John Moroz served as the brokers from Marcus & Millichap who facilitated the sale. Their expertise and negotiation skills contributed to the successful completion of the deal.
Players
Westport 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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93