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921 Cedar Bridge Avenue

Nav Singh Acquires Retail Property In Brick, NJ For $2.5M
SOLDRetail

Nav Singh Acquires Retail Property In Brick, NJ For $2.5M

921 Cedar Bridge Avenue

$2,500,000

$297/SF

Building Size

8,400 SF

Asset Type

Retail

Closing

Nov 24, 2023

AI

A car wash and strip center property located at 921 Cedar Bridge Avenue in Brick, NJ has been sold for $2,500,000. The property spans 8,400 square feet, resulting in a price per square foot of $298. The transaction took place on November 24, 2023.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,500,000
  • Address: 921 Cedar Bridge Avenue, Brick, NJ
  • Market: Brick, NJ

The buyer of the property is Nav Singh, while the seller is First Era Property represented by Joan Pastore. The transaction was facilitated by Joseph Spinella and Daniel Keenan from KW Commercial.

Players

Joseph Spinella

Keller Williams Realty

Broker

$55.7M

vol

24 deals

Broker

Brick 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

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93