Maharaja Hypermarket To Open 3,500 SF Grocery Store At 389 Main Street In Hackensack
389 Main Street Hackensack, NJ 07606, USA
Building Size
3,500 SF
Asset Type
Retail
Closing
Sep 17, 2023
AI
The Crossroads 389 building in Hackensack, New Jersey, will soon be home to a new grocery store. Maharaja Hypermarket is set to open a 3,500-square-foot retail space on Main Street within the building. This addition will enhance the shopping options available on Main Street and contribute to the city's ongoing revitalization efforts.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 389 Main Street, Hackensack, New Jersey
- Market: Hackensack
- Asset Size: 3,500 SF
Maharaja Hypermarket, the tenant of the retail space, plans to open their grocery store in the fall. This new establishment will bring a diverse range of products and services to the Hackensack community. The lease agreement for this retail space was facilitated by Anthony Cassano of NAI James E. Hanson, whorepresented Maharaja Hypermarket in this transaction. The landlord, Sonehan Clinton Court Urban Renewal, LLC, has provided the space for Maharaja Hypermarket's venture.
Players
Hackensack 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