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1175 New Jersey 33, Farming...

New Horizon Properties Leases Retail Space In Farmingdale To Jersey Mike's Subs
LEASEDRetail

New Horizon Properties Leases Retail Space In Farmingdale To Jersey Mike's Subs

1175 New Jersey 33, Farmingdale, NJ, USA

Building Size

1,500 SF

Asset Type

Retail

Closing

Oct 27, 2021

AI

Jersey Mike's Subs has leased a retail space located at 1175 Route 33 in Farmingdale. The property, with a size of 1,500 square feet, is owned by New Horizon Properties, LLC. The lease transaction was facilitated by Jarrad Coletta from Coletta Commercial Realty and Urszula Zoltek from Zoltek Realty. The lease type is NNN Lease, with an asking rent of $24 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not available
  • Address: 1175 Route 33, Farmingdale
  • Market: Farmingdale
  • Landlord: New Horizon Properties, LLC
  • Tenant: Jersey Mike's Subs
  • Brokers: Jarrad Coletta from Coletta Commercial Realty, Urszula Zoltek from Zoltek Realty
  • Asking Rent: $24 per square foot
  • Lease Type: NNN Lease

Jarrad Coletta and Urszula Zoltek played significant roles as brokers in facilitating the lease deal between the landlord, New Horizon Properties, LLC, and the tenant, Jersey Mike's Subs. They represented their respective agencies, Coletta Commercial Realty and Zoltek Realty, in the transaction.

Players

Jarrad Coletta

Coletta Commercial Realty

Broker

$15.1M

vol

10 deals

Broker
JS
Jersey Mike's SubsTenant

Farmingdale 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