Updated Dec 4, 2024
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
About this deal
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
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