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1103 US Route 46

Sofias Taqueria Leases Retail Space In Ledgewood For 10 Years
LEASEDRetail

Sofias Taqueria Leases Retail Space In Ledgewood For 10 Years

1103 US Route 46

$26

$26/SF

Building Size

7,000 SF

Asset Type

Retail

Closing

May 1, 2024

AI

Located at 1103 Us Route 46 in Ledgewood, this retail property has been leased for a 10-year term at an asking rent of $26 per square foot, totaling 7,000 square feet. The landlord in this transaction is Mitchell Riback, and the tenant is Sofias Taqueria.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Landlord: Mitchell Riback
  • Landlord's Rep: Jenna Glick & Nancy Stanton - Tuckman
  • Tenant: Sofias Taqueria
  • Tenant's Rep: Maurice Molcho & Ron Molcho - Molcho Realty Group
  • Asking Rent: $26/ft.
  • Lease Term: 10 Year Lease

Representing the respective parties in this deal are Jenna Glick & Nancy Stanton from Tuckman serving as the landlord's representatives and Maurice Molcho & Ron Molcho from Molcho Realty Group acting as the tenant's representatives. The leasing of this property showcases the collaborative efforts between the involved parties in achieving a favorable agreement.

Players

Maurice Molcho

Molcho Realty Group

Broker

$15.2M

vol

8 deals

Broker

Ledgewood 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

610115.38%

Cash-on-Cash

-174372.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93