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20 South Kinderkamack Road

Updated Dec 4, 2024

Bipin Patel & Heerak Amin Open Montvale Liquors Boutique Liquor Store At CVS Center
LEASEDRetail

Bipin Patel & Heerak Amin Open Montvale Liquors Boutique Liquor Store At CVS Center

20 South Kinderkamack Road

Building Size

4,700 SF

Asset Type

Retail

Closing

Oct 8, 2024

About this deal

AI

The asset involved in the transaction is a retail space located at 20 South Kinderkamack Road in Montvale, consisting of 4,700 square feet. This property is part of a shopping center known as CVS Center, where Montvale Liquors will be establishing its boutique liquor store, succeeding a smaller liquor outlet. The retail space is positioned to enhance the shopping experience in the area with an expanded selection of wine, spirits, and craft beer.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Square Footage: 4,700
  • Address: 20 South Kinderkamack Road
  • Market: Montvale
  • Tenant: Bipin Patel & Heerak Amin - Montvale Liquors
  • Broker: Sidney Singer - Levin Management Corporation

The key individuals behind this deal are Bipin Patel and Heerak Amin, who are experienced industry veterans operating the Montvale Liquors. The store is being opened in a shopping center that is managed by Levin Management Corporation, which is also overseeing the establishment of a new lease for Tropical Smoothie Cafe situated at Brunswick Shopping Center in North Brunswick.

Players

Sidney Singer

LEVIN Management

Broker

1 deal

Broker

Montvale 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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