Nav Singh Acquires Retail Property In Brick, NJ For $2.5M
SOLD
$2,500,000
New Jersey
See Similar DealsRetail8,400 SF
Sold 11/24/2023
SOLD
Nav Singh Acquires Retail Property In Brick, NJ For $2.5M
921 Cedar Bridge Avenue
See Similar DealsRetail8,400 SF
Sold 11/24/2023
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$297
Total Square Footage:8,400 SF
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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