Updated Dec 4, 2024
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
About this deal
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.
On the Map
$26
$26/SF
Retail
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Players
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