Updated Oct 28, 2024
Metrodoc LLC Leases Retail Space At 115 Belmont Ave In Belleville, NJ With Black Oak As The Landlord
115 Belmont Avenue, Belleville, NJ, USA
Building Size
1,950 SF
Asset Type
Retail
Closing
Jun 27, 2021
About this deal
AI
A retail property located at 115 Belmont Ave in Belleville, NJ has recently been leased. The lease transaction was completed on 06/28/2021. The tenant, Metrodoc LLC, will be occupying the space. The landlord in this deal is Black Oak. The leasing was facilitated by Christopher Conway from Retail_Cre.
Summary of transaction details:
- Property Type: Retail
- Address: 115 Belmont Ave, Belleville, NJ
- Market: Belleville, NJ
- Tenant: Metrodoc LLC
- Landlord: Black Oak
- Rent: $22/ft.
- Square Footage: 1,950
This lease agreement is for a 10-year term, with the tenant having the option to extend for two additional five-year periods.
Belleville 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93