retail/office complex in Tinton Falls NJ

[Joseph Anselmo]

I structured a deal with an owner/developer who purchased property in NJ in 2008 that currently has a restaurant and a residential home on it. (phase one)

Phase two - They recently got approvals to build 22,000 sq ft of retail/office space. We already have LOIs for 40% of the retail space. He owns the property since 2008 and has a $1.1M mortgage on it. I just had an appraisal completed last week, which came in at $2,345,000, “as is” value with a $6M completion value. They are looking for an active partner up to 50% ownership in the business. Current rental income is $95,805/year triple net. Expesnes are $76,325/year. The total buy-in for 50% including broker fees would be $1,333,395.00.  I have proforma based on 22,000 sq ft new construction if anyone needs a copy.

If anyone has interest or knows someone intersted in this opportunity please call me at 800-500-3600 or [e-mail]

Thanks

Joseph Anselmo

ZD11521_fallsvillage-F.pdf

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