Updated Oct 29, 2024
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
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