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257 US Route 202

Bussel Realty Leases 2,500 SF Retail Space To First Choice Aquatics At 257 Route 202, Flemington
LEASEDRetail

Bussel Realty Leases 2,500 SF Retail Space To First Choice Aquatics At 257 Route 202, Flemington

257 US Route 202

Building Size

2,500 SF

Asset Type

Retail

Closing

Oct 30, 2023

AI

First Choice Aquatics LLC has leased 2,500 square feet of retail space at 257 Route 202 in Flemington. The property is part of a 20,000-square-foot shopping center located near Flemington's major retail hubs. The landlord, 257 Route 202 LLC, facilitated the lease transaction through Bussel Realty Corp, with brokers Chandler Vanderbeek, Connor Vanderbeek, and Steve Bussel representing both the landlord and the tenant.

Summary of transation details

Bussel Realty Corp played a crucial role in the lease agreement between First Choice Aquatics LLC and 257 Route 202 LLC. With their expertise and negotiation skills, brokers Chandler Vanderbeek, Connor Vanderbeek, and Steve Bussel successfully finalized the deal for the 2,500 square feet retail space in Flemington.

Players

Steve Bussel

Bussel Realty

Broker

$44.7M

vol

9 deals

Broker

Flemington 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