Sam Maddali Acquires Retail Property In New Jersey For $11M With Brokers Justin Michael Natalizio & Eric Michael Anton
SOLD
$11,000,000
Maine
See Similar DealsRetail4,243 SF
Sold 04/28/2023
SOLD
Sam Maddali Acquires Retail Property In New Jersey For $11M With Brokers Justin Michael Natalizio & Eric Michael Anton
989 Us Route 1
See Similar DealsRetail4,243 SF
Sold 04/28/2023
Summary
MAINE
Asset Type:Retail
Price Per Square Foot:$2,592
Total Square Footage:4,243 SF
Transaction Type:Sale
The retail property located at 989 Us Route 1 in New Jersey has been sold in a recent transaction. The property spans 4,243 square feet and was sold for a total of $11,000,000, resulting in a price per square foot of $2,593. The sale took place on April 28, 2023.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $11,000,000
- Square Feet: 4,243
- Price per Square Foot: $2,593
- Address: 989 Us Route 1, New Jersey
- Market: New Jersey
The buyer of the property is Sam Maddali, while the seller is The Choi Family Office. The brokers involved in the transaction are Justin Michael Natalizio and Eric Michael Anton from Marcus & Millichap. Justin Michael Natalizio can be contacted at [email protected] or 917-685-6988. The buyer is actively seeking a 1031X with a 6% yield and is interested in acquiring additional QuickChek NNN properties.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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