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Marcus & Millichap Brokers $10M Sale Of Saigon Plaza Retail Center In Pennsauken New Jersey

Property Image
SOLD
$10,000,000
Mark Krantz
Derrick Dougherty

New Jersey

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Retail44,490 SF
Sold 05/23/2025
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Brokers $10M Sale Of Saigon Plaza Retail Center In Pennsauken New Jersey

Retail44,490 SF
Sold 05/23/2025
Mark Krantz
Derrick Dougherty
the dealplayerscompscontact
Contact now

Summary

Asset Type:Retail
Price Per Square Foot:$224
Total Square Footage:44,490 SF
Transaction Type:Sale

A retail center located at 5201 New Jersey Highway 38 in Pennsauken Township, NJ, was sold for $10,000,000. This asset has a total square footage of 44,490, translating to a price per square foot of $225. The property is anchored by Sun Seng Supermarket.

Summary of transaction details:

Mark Krantz and Derrick Dougherty represented the seller in this transaction, who is also the operator of Sun Seng Supermarket, providing specialized representation in the brokerage of this retail property. The identity of the buyer remains undisclosed.

Players

Derrick Dougherty
Marcus & Millichap
Derrick Dougherty
27 deals$178.4M volume
BROKER
Mark Krantz
Marcus & Millichap
Mark Krantz
13 deals$58.2M volume(215) 531-7056
BROKER
Mark Krantz
Mark Krantz
13 deals$58.2M volume
SELLER

Details

SOLD
IMAGE: Derrick Dougherty & Mark Krantz DATE: 05/23/2025 ADDRESS: 5201 New Jersey Highway 38 MARKET: Pennsauken Township, NJ ASSET TYPE: Retail BROKERS: Derrick Dougherty & Mark Krantz - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $10,000,000 SF: 44,490 ~ PPSF: $225 NOTE: Marcus & Millichap brokered the $10M sale of Saigon Plaza, a 44,490-sq.-ft. retail center in Pennsauken, NJ, anchored by Sun Seng Supermarket. The seller, who also runs the grocery store, was represented by Mark Krantz and Derrick Dougherty; buyer undisclosed.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$533,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22