Jersey Mike's Subs Leases Mixed-Use Property In Whippany Village For Expansion
456 New Jersey 10, Whippany, NJ, USA
Building Size
1,379 SF
Asset Type
Mixed-use
Closing
Oct 7, 2021
AI
A mixed-use property located at 456 Route 10 in Whippany has been leased. The property offers a total square footage of 1,379 and is owned by Whippany Village Partners LLC. The tenant for this lease agreement is Jersey Mike's Subs. The deal was facilitated by brokers Jarrad Coletta from Coletta Commercial Realty and Sean Pyle from Sabre Real Estate Group.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: Not available
- Address: 456 Route 10, Whippany
- Market: Whippany
- Square Footage: 1,379
Jersey Mike's Subs, a popular sandwich chain, has secured a lease for the mixed-use property located at 456 Route 10 in Whippany. The lease agreement was facilitated by brokers Jarrad Coletta from Coletta Commercial Realty and Sean Pyle from Sabre Real Estate Group. Both brokers played a crucial role in representing their respective clients and finalizing the lease deal.
Players
Whippany Mixed-use Market Snapshot
Boundary boundary · Mixed-use · 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