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242 Lincoln Boulevard

NAI DiLeo-Bram & Co Sells SuperFresh-Anchored Shopping Center In Middlesex For $8.55M
SOLDRetail

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

Marc Shein

NAI Global

Broker

$22.5M

vol

8 deals

Broker

Middlesex Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

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