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115 Belmont Avenue

Phenix Salon Suites Leases Retail Space At 115 Belmont Ave In Belleville
LEASEDRetail

Phenix Salon Suites Leases Retail Space At 115 Belmont Ave In Belleville

115 Belmont Avenue

$25

$25/SF

Building Size

8,040 SF

Asset Type

Retail

Closing

Aug 1, 2022

AI

The retail property located at 115 Belmont Ave in Belleville has been leased. The property has a total square footage of 8,040 and was leased for an asking rent of $25 per square foot. The landlord for the property is Black Oaks Development, and the tenant is Phenix Salon Suites. The lease transaction was facilitated by brokers Chris Conway from The Goldstein Group and David Townes & Alana Friedman from Cushman & Wakefield.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not mentioned in CONTEXT

This lease transaction involved the leasing of a retail property located at 115 Belmont Ave in Belleville. The property is part of a brand new mixed-use development, which is anchored by Superfresh Supermarket and Metrodoc Urgent Care. The remaining available space for lease includes 1,755-4,255 square feet in-line and 4,515 square feet available for a restaurant user. This lease deal was facilitated by brokers Chris Conway from The Goldstein Group and David Townes & Alana Friedman from Cushman & Wakefield.

Players

Christopher Conway

Atlantic Coastal Real Estate

Broker

$12.1M

vol

40 deals

Broker

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

634520.00%

Cash-on-Cash

-181347.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93