Sam Maddali Acquires Retail Property In New Jersey For $11M With Brokers Justin Michael Natalizio & Eric Michael Anton
989 Us Route 1
$11,000,000
$2,592/SF
Building Size
4,243 SF
Asset Type
Retail
Closing
Apr 28, 2023
About this deal
AI
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.
On the Map
$11,000,000
$2,592/SF
Retail
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Players
York 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93