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
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