Marcus & Millichap Brokers $9.11 Million Sale Of Retail Center In Parsippany New Jersey
745 Us Route 46
$9,110,000
$280/SF
Building Size
32,432 SF
Asset Type
Retail
Closing
Jul 8, 2026
AI
745 US Route 46 is a retail asset located in Parsippany, NJ, consisting of 32,432 square feet with a total sale price of $9,110,000. The asset sits on 4.1 acres and is anchored by Harbor Freight, with a fully leased six-tenant configuration.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,110,000
- Square Footage: 32,432
- Sale Price per Square Foot: $281
- Address: 745 US Route 46, Parsippany, NJ
- Brokerage Firm: Marcus & Millichap
- Brokers: Alan Cafiero, David Cafiero & John Moroz
- Market: Parsippany, NJ
The sale included key contributions from Alan Cafiero, David Cafiero, and John Moroz, who represented the transaction through Marcus & Millichap. The property garnered strong buyer interest due to its stable cash flow, diverse tenant mix, and favorable highway access.
Players
Parsippany Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.74%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93