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1140 Nj-34, Strathmore, NJ,...

Updated Oct 29, 2024

1140 Nj-34
LEASEDRetail

1140 Nj-34

1140 Nj-34, Strathmore, NJ, 07747

Building Size

3,200 SF

Asset Type

Retail

Closing

Nov 20, 2023

About this deal

AI

The property involved is located at 1140 NJ-34 in Strathmore, NJ, within the Matawan market. It encompasses a total area of 3,200 square feet and is a freestanding building that previously functioned as Kicky's Restaurant. The landlord for this transaction is SG National LLC.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 1140 NJ-34, Strathmore, NJ, 07747
  • Market: Matawan
  • Landlord's Representative: Jerry Rockoff - RKF
  • Tenant: AFC Urgent Care
  • Landlord: SG National LLC
  • Square Feet: 3,200

Neil Goldstein, a principal at The Goldstein Group, represented the tenant, AFC Urgent Care, during this transaction. The urgent care franchise is among a growing sector in the retail commercial industry, expanding its footprint with additional locations across the nation. Chuck Lanyard, president of The Goldstein Group, noted the ongoing trend of urgent care operations acquiring retail spaces as they establish a stronger presence within local communities.

Players

Jerry Rockoff

Newmark

Broker

1 deal

Broker
AC
AFC Urgent CareTenant

Matawan 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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