Updated Aug 19, 2025
Pankit Sutaria Purchases Retail Property From UNLMTD Real Estate Group For $2.21M In Nutley
Franklin Avenue
$2,210,000
$322/SF
Building Size
6,862 SF
Asset Type
Retail
Closing
Aug 13, 2025
About this deal
AI
The retail property located at 249 Franklin Ave in Nutley has been sold for $2,210,000. This asset encompasses a total area of 6,862 square feet, resulting in a price per square foot of $322.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,210,000
- Address: 249 Franklin Ave
- Market: Nutley
- Buyer: Pankit Sutaria
- Seller: UNLMTD Real Estate Group
- Broker: Michelle Han - Sotheby's International Realty
- Square Footage: 6,862
- Price Per Square Foot: $322
Michelle Han, a licensed real estate salesperson in New York and New Jersey, serves as the broker for this transaction through Sotheby’s International Realty. She has proven expertise in the commercial real estate market, focusing on investment and owner-user opportunities in various asset classes.
Players
Nutley 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
7.18%
Cash-on-Cash
-2.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93