Updated Sep 5, 2024
Mohamed Kazan & Abdul Kazan Of Keller Williams Realty Lease Industrial Property In Newark For 5 Years
254 Elizabeth Avenue, Newark, NJ 07108
Building Size
13,000 SF
Asset Type
Industrial
Closing
Dec 1, 2021
About this deal
AI
Located at 254 Elizabeth Ave, this industrial property in Newark was recently leased. The lease terms are for a duration of 5 years with a lease type of NNN Lease. The property spans approximately 13,000 square feet with an asking rent of $13 per square foot. The deal was facilitated by brokers Mohamed Kazan and Abdul Kazan from Keller Williams Realty.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: N/A
- Address: 254 Elizabeth Ave, Newark
- Market: Newark
- Asking Rent: $13/ft.
- Square Footage: 13,000
- Lease Terms: 5 years
- Lease Type: NNN Lease
The lease of this industrial property was successfully negotiated by Mohamed Kazan and Abdul Kazan from Keller Williams Realty. They played a crucial role in securing the deal between the parties involved.
Players
Newark Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93