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Shantaaa LLC Acquires Former Rite Aid In Somerville From I.C. Somerville Inc For $2.6M

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SOLD
$2,600,000

New Jersey

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Retail11,000 SF
Sold 08/20/2025
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Property Image
SOLD

Shantaaa LLC Acquires Former Rite Aid In Somerville From I.C. Somerville Inc For $2.6M

132 North Gaston Avenue

See Similar Deals
Retail11,000 SF
Sold 08/20/2025
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$236
Total Square Footage:11,000 SF
Transaction Type:Sale

The transaction involves the sale of a retail property located at 132 North Gaston Avenue in Somerville. The property, formerly a Rite Aid, encompasses a total of 11,000 square feet and was sold for $2,600,000, resulting in a price per square foot of $236.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,600,000
  • Address: 132 North Gaston Avenue
  • Market: Somerville
  • Square Footage: 11,000
  • Price per Square Foot: $236
  • Buyer: Shantaaa LLC
  • Seller: I.C. Somerville Inc
  • Broker: Tim Deluccia - Deluccia Commercial Group - Berkshire Hathaway HomeServices

Tim Deluccia of Deluccia Commercial Group represented both Shantaaa LLC and I.C. Somerville Inc in the deal, facilitating the transaction between the buyer and the seller for the property at 132 North Gaston Ave.

Players

Tim Deluccia
Berkshire Hathaway HomeServices
Tim Deluccia
15 deals$22.7M volume
BROKER
Berkshire Hathaway HomeServices
Berkshire Hathaway HomeServices
BROKERAGE

Details

SOLD
IMAGE: Tim Deluccia DATE: 08/20/2025 ADDRESS: 132 North Gaston Avenue MARKET: Somerville ASSET TYPE: Retail BUYER: Shantaaa LLC SELLER: I.C. Somerville Inc BROKER: Tim Deluccia (@TimDeluccia) - Deluccia Commercial Group - Berkshire Hathaway HomeServices (@BHHSRealEstate) SALE PRICE: $2,600,000 SF: 11,000 ~ PPSF: $236 NOTE: Shantaaa LLC bought the former 11,000-SF Rite Aid at 132 North Gaston Ave. in Somerville for $2.6M from I.C. Somerville Inc. Tim Deluccia of Deluccia Commercial Group represented both sides in the deal.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$138,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92