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385 Franklin Turnpike

Peter Montalbano Leases Retail Space To Domino's At 385 Franklin Turnpike For 10 Years
LEASEDRetail

Peter Montalbano Leases Retail Space To Domino's At 385 Franklin Turnpike For 10 Years

385 Franklin Turnpike

$30

$30/SF

Building Size

1,500 SF

Asset Type

Retail

Closing

Apr 30, 2025

AI

The property involved in the transaction is a retail asset located at 385 Franklin Turnpike in Ramsey. The asking rent for the space is $30 per square foot, and it encompasses a total of 1,500 square feet. The lease established is a NNN lease with a term of 10 years.

Summary of transaction details:

The key individuals behind this transaction include Peter Montalbano, who is the landlord, and Domino's, represented by Azeemi Pizza as the tenant. The broker facilitating this deal is James Peko from Christie's International Real Estate.

Players

James Peko

Christie's International Real Estate

Broker

2 deals

Broker

Ramsey 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

528766.67%

Cash-on-Cash

-151123.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93