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389 Main Street Hackensack,...

Maharaja Hypermarket To Open 3,500 SF Grocery Store At 389 Main Street In Hackensack
LEASEDRetail

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

Anthony Cassano

NAI James E. Hanson

Broker

$5.6M

vol

4 deals

Broker
UL
Urban Renewal, LLCLandlord

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