1513 Richmond Ave. in Point Pleasant — Courtesy: Marcus & Millichap
By Joshua Burd
A private owner has reaped nearly $7 million from the sale of a Jersey Shore retail property, according to brokers with Marcus & Millichap.
The 19,111-square-foot property, located at 1513 Richmond Ave. in Point Pleasant, is home to a Walgreens and a Keller Williams Realty agency. The brokerage team of Alan Cafiero, Ben Sgambati and David McLaughlin represented the seller, an LLC.
The undisclosed buyer paid $6.8 million for the property as part of a 1031 like-kind exchange.