NAI DiLeo-Bram & Co Sells SuperFresh-Anchored Shopping Center In Middlesex For $8.55M
242 Lincoln Boulevard
$8,550,000
$122/SF
Building Size
69,750 SF
Asset Type
Retail
Closing
Jan 23, 2024
AI
The retail property located at 242 Lincoln Boulevard in Middlesex Borough has been sold for $8,550,000. This SuperFresh-anchored shopping center spans 69,750 square feet and is situated in the Middlesex market. The property underwent a full renovation and is now a part of Food World Market and the Key Food Stores cooperative. It opened in time for the 2023 holiday season, serving approximately 294,000 people within a five-mile radius.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,550,000
- Square Feet: 69,750
- Price Per Square Foot: $123
- Address: 242 Lincoln Boulevard, Middlesex Borough
- Market: Middlesex
The sale of this retail property was facilitated by Marc Shein from NAI DiLeo-Bram & Co. As the representative of the buyer or seller in this transaction, Marc Shein played a key role in the successful completion of the deal.
Players
Middlesex 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
1.86%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93