Aroma De Cafe Leases Retail Space At 227 Franklin Avenue, Nutley
227 Franklin Avenue
$32
$32/SF
Building Size
6,000 SF
Asset Type
Retail
Closing
May 16, 2024
AI
The retail property located at 227 Franklin Avenue in Nutley has been leased to Aroma De Cafe. The space spans 6,000 square feet with an asking rent of $32 per square foot.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: Not specified
- Tenant: Aroma De Cafe
- Brokers: Gregory Edgell & Chris Vitiello - Grid Real Estate
- Date: 05/16/2024
- Address: 227 Franklin Avenue, Nutley
Gregory Edgell and Chris Vitiello of Grid Real Estate facilitated the lease deal for Aroma De Cafe. The brokers secured an executed Letter of Intent (LOI) within 17 days of the property being on the market, demonstrating their efficiency in finding the right tenant for the space.
Players
Nutley 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
495718.75%
Cash-on-Cash
-141677.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93