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KNBOO LLC Acquires Norwood Retail Property For $1.65M

Property Image
SOLD
$1,650,000

New Jersey

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Retail2,802 SF
Sold 10/04/2022
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Property Image
SOLD

KNBOO LLC Acquires Norwood Retail Property For $1.65M

590-592 Broadway

See Similar Deals
Retail2,802 SF
Sold 10/04/2022
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Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$588
Total Square Footage:2,802 SF
Transaction Type:Sale

590-592 Broadway, located in Norwood, was recently sold in a retail transaction. The property consists of 2,802 square feet and was sold at a price of $1,650,000, resulting in a price per square foot of $589. The sale took place on October 5, 2022, and involved KNBOO LLC as the buyer and Maxim Realty Trust as the seller.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $1,650,000
  • Square Footage: 2,802
  • Address: 590-592 Broadway, Norwood

The buyer was represented by Jason Lee from Eastern Realty, while the seller was represented by Lew Finkelstein and CJ Huter from The Goldstein Group. This transaction demonstrates the value of quality real estate, as evidenced by the successful sale and creation of value for the parties involved.

Note from Seller's Rep: Fortunate to have represented a great friend in the sale of this asset. Quality real estate will always sell and create value.

Players

CJ Huter
25 deals$119.7M volume(201) 888-8129
BROKER

Lew Finkelstein
31 deals$125.9M volume(201) 704-2743
BROKER

Jason Lee
Eastern Realty
2 deals$6.9M volume
BROKER

SELLER

Details

SOLD
IMAGE: Lew Finkelstein & CJ Huter DATE: 10/05/2022 ADDRESS: 590-592 Broadway MARKET: Norwood ASSET TYPE: Retail BUYER: KNBOO LLC SELLER: Maxim Realty Trust BUYER'S REP: Jason Lee - Eastern Realty SELLER'S REP: Lew Finkelstein (@LewFinkelstein) & CJ Huter (@CJHuter) - The Goldstein Group SALE PRICE: $1,650,000 SF: 2,802 ~ PPSF: $589 NOTE FROM SELLER'S REP: Fortunate to have represented a great friend in the sale of this asset. Quality real estate will always sell and create value.

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

$88,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,862.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,821.84
Annual Debt Service$93,862.10