Sachin Patel Acquires Retail Property In Denville From Bud Patel For $1.465M
SOLD
$1,465,000
New Jersey
See Similar DealsRetail7,650 SF
Sold 03/18/2025
SOLD
Sachin Patel Acquires Retail Property In Denville From Bud Patel For $1.465M
3118 New Jersey Highway 10
See Similar DealsRetail7,650 SF
Sold 03/18/2025
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$191
Total Square Footage:7,650 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail space located at 3118 New Jersey Highway 10 in Denville, priced at $1,465,000.00. The total square footage of the asset is 7,650.0 SF.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,465,000.00
- Address: 3118 New Jersey Highway 10
- Market: Denville
- Square Footage: 7,650.0
- Buyer: Sachin Patel
- Seller: Bud Patel
The transaction involved key individuals including the buyer, Sachin Patel, and the seller, Bud Patel. The deal was represented by Joseph Spinella from KW, who serves as the Director of Commercial Real Estate.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$78,133.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,204.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,944.85
Annual Debt Service$83,338.17
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