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3030 Us Route 9

Maurice Molcho & Ron Molcho Lease Retail Space To Sofia'S Taqueria In Old Bridge
LEASEDRetail

Maurice Molcho & Ron Molcho Lease Retail Space To Sofia'S Taqueria In Old Bridge

3030 Us Route 9

$20

$20/SF

Building Size

8,000 SF

Asset Type

Retail

Closing

Jan 5, 2024

AI

The retail property located at 3030 Us Route 9 in Old Bridge, NJ, was leased in a transaction involving Mosaic Diner as the landlord and Sofia'S Taqueria - Bread & Butter Hospitality as the tenant. The lease agreement was facilitated by Maurice Molcho & Ron Molcho of Molcho Realty Group. The lease terms include an asking rent of $20 per square foot for the 8,000 square feet space, with a 15-year lease duration.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: Not provided
  • Address: 3030 Us Route 9
  • Market: Old Bridge, NJ
  • Landlord: Mosaic Diner
  • Tenant: Sofia'S Taqueria - Bread & Butter Hospitality
  • Broker: Maurice Molcho & Ron Molcho - Molcho Realty Group
  • Asking Rent: $20/ft.
  • SF: 8,000
  • Lease Term: 15 Year Lease

The lease deal was successfully negotiated with the involvement of Maurice Molcho & Ron Molcho representing the landlord and the tenant, respectively. This agreement brings together Mosaic Diner and Sofia'S Taqueria - Bread & Butter Hospitality in a long-term arrangement that aligns with their business goals in the retail sector.

Players

Maurice Molcho

Molcho Realty Group

Broker

$15.2M

vol

8 deals

Broker

Market 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

793150.00%

Cash-on-Cash

-226684.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93