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Marcus & Millichap Sells Matawan Mall Retail Center For $3.05M With 11 Tenants
SOLD
$3,050,000
New Jersey
See Similar DealsRetail20,665 SF
Sold 01/14/2025
SOLD
Marcus & Millichap Sells Matawan Mall Retail Center For $3.05M With 11 Tenants
952 New Jersey Highway 34
See Similar DealsRetail20,665 SF
Sold 01/14/2025
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$147
Total Square Footage:20,665 SF
Transaction Type:Sale
The retail asset sold is a 20,665-square-foot property located at 952 New Jersey Highway 34 in Matawan. The transaction was finalized at a price of $3,050,000, translating to a price per square foot of $148. The property is anchored by Dunkin' and accommodates a total of 11 tenants, benefiting from strong local demographics and significant growth potential.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,050,000
- Address: 952 New Jersey Highway 34
- Market: Matawan
- Square Footage: 20,665
- Price per Square Foot: $148
- Seller: Brupat Holdings, LLC
- Agents Involved: Alan Cafiero, Brent Hyldahl & Seth Goldberg - Marcus & Millichap
The transaction involved the brokers from Marcus & Millichap who facilitated the sale, representing the interests of the seller, Brupat Holdings, LLC. The deal attracted over 15 active bidders, highlighting the competitive nature of the transaction in the retail market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$162,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,836.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,458.56
Annual Debt Service$173,502.67
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