Anthony Berardi Purchases Retail Asset From Melanie Donnelly In Sparta For $1.1M
SOLD
$1,100,000
New Jersey
See Similar DealsRetail20,680 SF
Sold 03/23/2025
SOLD
Anthony Berardi Purchases Retail Asset From Melanie Donnelly In Sparta For $1.1M
37 Theatre Center
See Similar DealsRetail20,680 SF
Sold 03/23/2025
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$53
Total Square Footage:20,680 SF
Transaction Type:Sale
This retail asset located at 37 Theatre Center in Sparta, New Jersey was successfully sold for $1,100,000. The property encompasses a total square footage of 20,680, leading to a price per square foot of $53. The transaction involved an environmentally challenged asset, which presented complexities during the sale process.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,100,000
- Buyer: Anthony Berardi
- Seller: Melanie Donnelly
- Broker: Dennis Giammetta - Newmark Associates
- Sale Date: 3/23/2025
Broker Dennis Giammetta successfully facilitated this off-market sale, connecting Anthony Berardi with seller Melanie Donnelly. The transaction was completed smoothly despite the environmental challenges associated with the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$58,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73
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