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900 NJ-17 Ramsey, NJ 07446,...

Brothers Smokehouse Acquires Retail Property In Ramsey, NJ For $7.2M
SOLDRetail

Brothers Smokehouse Acquires Retail Property In Ramsey, NJ For $7.2M

900 NJ-17 Ramsey, NJ 07446, USA

$7,200,000

$514/SF

Building Size

14,000 SF

Asset Type

Retail

Closing

May 25, 2023

AI

Brothers Smokehouse has recently acquired a retail property located at 900 Route 17 in Ramsey, NJ. The property spans 14,000 square feet and was sold for a price of $7,200,000, resulting in a price per square foot of $514. Marc Palestina and Chuck Lanyard from The Goldstein Group represented Brothers Smokehouse in this transaction. It is noteworthy that Brothers Smokehouse has been operating successfully at this location for the past few years and is now thrilled to become the proud owners of the property.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $7,200,000
  • SF: 14,000
  • PPSF: $514
  • Address: 900 Route 17, Ramsey, NJ

The acquisition of the property by Brothers Smokehouse was facilitated by the brokers Marc Palestina and Chuck Lanyard from The Goldstein Group. Their expertise and representation were instrumental in ensuring a successful deal for Brothers Smokehouse. We congratulate Brothers Smokehouse on their continued success and growth in this location and wish them all the best as property owners.

Players

Marc Palestina

VanRockCRE

Broker

$117.5M

vol

27 deals

Broker

New Jersey 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

2.20%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93