Home Power Yoga Leases Retail Space At 333 Springfield Avenue In Summit For Second Location
333 Springfield Avenue
Building Size
3,300 SF
Asset Type
Retail
Closing
Nov 8, 2024
AI
The retail asset located at 333 Springfield Avenue encompasses a total of 3,300 square feet and is situated in downtown Summit. The space has been leased by Home Power Yoga, which is establishing its second location in an upscale business district surrounded by affluent communities.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 333 Springfield Avenue
- Market: Summit
- Asset Size: 3,300 square feet
- Tenant: Home Power Yoga
- Brokers: Marcy Gross & Matthew Leonelli - Sheldon Gross Realty
The lease transaction was facilitated by the brokerage firm Sheldon Gross Realty, with Marcy Gross and Matthew Leonelli representing the interests of Home Power Yoga in the deal. This marks a significant expansion for the tenant in the retail market of Summit.
Players
Summit Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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