Updated Dec 4, 2024
Izzy Lindner Leases Retail Space At 11 Kettle Creek Road To Sofia's Taqueira For $14/ft
11 Kettle Creek Road
$14
$14/SF
Building Size
10,000 SF
Asset Type
Retail
Closing
Jul 31, 2024
About this deal
AI
The retail asset located at 11 Kettle Creek Road in Toms River features a 10,000 square foot space leased to Sofia's Taqueira, a business operated by Bread Butter Hospitality. The asking rent for this location was set at $14 per square foot. The lease agreement includes a 15-year term with an option to renew and is classified as a NNN lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $14/ft
- Address: 11 Kettle Creek Road
- Market: Toms River
- Lease Term: 15 Year Lease + Option to renew
- Lease Type: NNN Lease
- Landlord: Izzy Lindner
- Tenant: Sofia's Taqueira - Bread Butter Hospitality
- Tenant's Representative: Maurice Molcho & Ron Molcho - Molcho Realty Group
- Square Footage: 10,000
Molcho Realty Group, represented by Maurice Molcho and Ron Molcho, is coordinating this lease deal. They are also actively seeking additional second-generation restaurant opportunities and pad sites of at least 6,000 square feet. Interested parties are encouraged to direct message Moe Molcho for potential opportunities.
On the Map
$14
$14/SF
Retail
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Players
Toms River Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1133071.43%
Cash-on-Cash
-323835.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93