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198 Market Street

Pizza Hut Leases Retail Space At 198 Market Street In Newark, NJ
LEASEDRetail

Pizza Hut Leases Retail Space At 198 Market Street In Newark, NJ

198 Market Street

$54

$54/SF

Building Size

1,875 SF

Asset Type

Retail

Closing

Dec 22, 2022

AI

The retail property located at 198 Market Street in Newark, NJ has been leased. The property, owned by 198 Market, has been leased to Pizza Hut. The deal was facilitated by Bruce Herman from Booth Street. The leasing transaction involved an asking rent of $54 per square foot for a total of 1,875 square feet.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: 198 Market Street, Newark, NJ
  • Tenant: Pizza Hut
  • Landlord: 198 Market
  • Broker: Bruce Herman - Booth Street
  • Asking Rent: $54/ft
  • Square Footage: 1,875

Bruce Herman from Booth Street represented Pizza Hut in the leasing transaction. This agreement marks a successful deal for both the landlord, 198 Market, and the new tenant, Pizza Hut.

Players

Bruce Herman

Booth Street

Broker

$41.1M

vol

22 deals

Broker
Pizza Hut
Pizza HutTenant

Newark, NJ 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

293759.26%

Cash-on-Cash

-83957.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93