Marcus & Millichap Brokers $5.8M Sale Of Retail Strip Center In Middletown New Jersey
1835 New Jersey Highway 35
$5,800,000
$197/SF
Building Size
29,411 SF
Asset Type
Retail
Closing
Feb 18, 2025
AI
A retail strip center located at 1835 New Jersey Highway 35 in Middletown has been sold for $5,800,000. The asset spans 29,411 square feet and occupies 1.9 acres. It is currently anchored by Benjamin Moore, contributing to its appeal in the retail market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,800,000
- Square Footage: 29,411 SF
- Price per Square Foot: $197
- Address: 1835 New Jersey Highway 35
- Market: Middletown
The transaction was brokered by Marcus & Millichap, with Alan Cafiero, Brent Hyldahl, and Seth Goldberg representing the undisclosed seller while also securing the buyer for the property.
Players
Middletown 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
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93