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3118 New Jersey Highway 10

Sachin Patel Acquires Retail Property In Denville From Bud Patel For $1.465M
SOLDRetail

Sachin Patel Acquires Retail Property In Denville From Bud Patel For $1.465M

3118 New Jersey Highway 10

$1,465,000

$191/SF

Building Size

7,650 SF

Asset Type

Retail

Closing

Mar 18, 2025

AI

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.

Players

Joseph Spinella

Keller Williams Realty

Broker

$55.7M

vol

24 deals

Broker

Sachin Patel

Buyer

$4.8M

vol

3 deals

Buyer

Denville 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

10.83%

Cash-on-Cash

-3.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93