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:
- Property Type: Retail
- Transaction Amount: $30/ft
- Lease Term: 10 Years
- Lease Type: NNN Lease
- Landlord: Peter Montalbano - 385 N. Franklin Turnpike
- Tenant: Domino's - Azeemi Pizza
- Broker: James Peko - Christie's International Real Estate
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.
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