Updated Feb 19, 2025
Inez Shoes Leases Industrial Space At 86 Forrest Street Jersey City For $16 Per Ft
86 Forrest Street
$16
$16/SF
Building Size
20,000 SF
Asset Type
Industrial
Closing
Nov 25, 2024
About this deal
AI
The property involved in this transaction is located at 86 Forrest Street in Jersey City. It is an industrial asset comprising a total area of 20,000 square feet. The asking rent for the leased space is $16 per square foot. The lease term is set for 5 years with an option available, and it is structured as a NNN lease.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $320,000
- Tenant: Inez Shoes
- Broker: Gregory Edgell - Grid Real Estate
- Lease Term: 5Y + Option
- Lease Type: NNN Lease
Gregory Edgell from Grid Real Estate represents Inez Shoes in this lease transaction. The representation entails negotiating the terms and conditions of the lease agreement for the industrial property.
On the Map
$16
$16/SF
Industrial
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Jersey City 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
991437.50%
Cash-on-Cash
-283355.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93