Updated Apr 30, 2026
Marcus & Millichap Sells Cornerstone Court Retail Property In Pennington For $3.925M
1 Tree Farm Road
$3,925,000
$214/SF
Building Size
18,284 SF
Asset Type
Retail
Closing
Mar 31, 2026
About this deal
AI
The retail property located at 1 Tree Farm Road, Pennington, has been sold for $3,925,000. The asset encompasses 18,284 square feet, representing a price per square foot of $215. The property is currently 77% occupied and features 11 tenants, including key anchors such as Subway and Dunkin'.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,925,000
- Square Footage: 18,284
- Price per Square Foot: $215
- Market: Pennington
- Tenants: 11
The transaction was facilitated by Marcus & Millichap, with the Cafiero Team—comprising Brent Hyldahl, Alan Cafiero, Seth Goldberg, David Cafiero, and Damien Rance—representing the seller while also procuring the buyer, both of whom are private investors from New Jersey.
On the Map
$3,925,000
$214/SF
Retail
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Players
Pennington Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.04%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93