Ridgemont Shopping Center Sells In Park Ridge New Jersey For $17 Million With Marcus & Millichap
169 Kinderkamack Road & 199 Kinderkamack Road
$17,000,000
$118/SF
Building Size
143,300 SF
Asset Type
Retail
Closing
Jan 9, 2025
AI
The Ridgemont Shopping Center, located at 169-199 Kinderkamack Road in Park Ridge, NJ, has been sold for $17,000,000. The property encompasses a total square footage of 71,650, resulting in a price per square foot of $237. This retail asset is fully occupied by 12 national and regional tenants, including Lidl, Staples, Chase Bank, and Starbucks.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $17,000,000
- Square Footage: 71,650
- Price per Square Foot: $237
- Address: 169-199 Kinderkamack Road
- Market: Park Ridge, NJ
- Brokers: Alan Cafiero, David Cafiero & John Moroz - Marcus & Millichap; William Farkas - Jeffery Realty
This transaction was facilitated by notable brokers in the market. Alan Cafiero, David Cafiero, and John Moroz represented the seller through Marcus & Millichap, while William Farkas represented the buyer via Jeffery Realty.
Players
Park Ridge 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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93