Milk Shake Factory Leases Retail Space At 175 Newark Avenue In Jersey City With Gregory Edgell Representing
175 Newark Avenue
$80
$80/SF
Building Size
1,200 SF
Asset Type
Retail
Closing
Nov 7, 2024
AI
The retail asset located at 175 Newark Avenue in Jersey City features a lease agreement with the Milk Shake Factory as the tenant. The property spans 1,200 square feet with an asking rent of $80 per square foot. The lease term is set for 10 years with an option available, and it operates under a NNN lease structure.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $80/ft
- Address: 175 Newark Avenue
- Market: Jersey City
- Tenant: Milk Shake Factory
- Lease Term: 10Y + Option
- Lease Type: NNN Lease
- Broker: Gregory Edgell - Grid Real Estate
Gregory Edgell from Grid Real Estate represents the interests of the tenant, Milk Shake Factory, in this leasing transaction. The deal highlights the ongoing activity and demand in the Jersey City retail market.
Players
Jersey City 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
198287.50%
Cash-on-Cash
-56671.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93