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NNN Pro Group Represents Buyer In $14.29M LA Fitness Sale In Linden New Jersey

Property Image
SOLD
$14,287,879
Britt Raymond
Christopher "Chris" Marks
+ 3

New Jersey

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Retail41,000 SF
Sold 09/27/2024
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Property Image
SOLD

NNN Pro Group Represents Buyer In $14.29M LA Fitness Sale In Linden New Jersey

950 West Edgar Road

See Similar Deals
Retail41,000 SF
Sold 09/27/2024
Britt Raymond
Christopher "Chris" Marks
+ 3
Contact now

Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$348
Total Square Footage:41,000 SF
Transaction Type:Sale

The property asset involved in this transaction is a retail space located at 950 West Edgar Road in Linden. The sale price for the property was $14,287,879, encompassing a total area of 41,000 square feet. The price per square foot stands at $348.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $14,287,879
  • Sale Date: 09/27/2024
  • Address: 950 West Edgar Road
  • Market: Linden
  • Square Footage: 41,000
  • Price per Square Foot: $348

The buyer was represented by Glen Kunofsky, Anthony D'Ambrosia, Josh Kanter, and Christopher Marks from The NNN Pro Group - Marcus & Millichap. The seller was represented by Kyle Fant and Britt Raymond from SRS Real Estate Partners. Chris Marks arranged the financing for the buyer through Marcus & Millichap Capital Corporation.

Players

Christopher "Chris" Marks
7 deals$75M volume(212) 430-5173
BROKER

Josh Kanter
Surmount
100 deals$626.3M volume
BROKER

Anthony D'Ambrosia
Surmount
105 deals$731.2M volume
BROKER

Britt Raymond
SRS Real Estate Partners
11 deals$150.6M volume
BROKER

Kyle Fant
SRS Real Estate Partners
13 deals$158M volume
BROKER

Details

SOLD
IMAGE: Glen Kunofsky, Anthony D'Ambrosia, Josh Kanter, Kyle Fant, Britt Raymond & Christopher Marks DATE: 09/27/2024 ADDRESS: 950 West Edgar Road MARKET: Linden ASSET TYPE: Retail BUYER'S REP: Glen Kunofsky, Anthony D'Ambrosia, Josh Kanter (@JKanter29) & Christopher Marks - The NNN Pro Group (@OfficialNNNPro) - Marcus & Millichap (@MarcusMillichapinc) SELLER'S REP: Kyle Fant (@FantKyle) & Britt Raymond - SRS Real Estate Partners (@SRSRealEstatePartners) SALE PRICE: $14,287,879 SF: 41,000 ~ PPSF: $348 NOTE FROM BROKER: The NNN Pro Group, along with their broker of record, Bang Realty-New Jersey Inc, represented the buyer for the LA Fitness in Linden, NJ. Chris Marks from Marcus & Millichap Capital Corporation arranged the financing for the buyer. Kyle Fant and Britt Raymond from SRS represented the seller.

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

$762,020.21

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$50,761.82
Cash-on-Cash Return-1.27%
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