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333 Springfield Avenue

Home Power Yoga Leases Retail Space At 333 Springfield Avenue In Summit For Second Location
LEASEDRetail

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

Marcy Gross

Broker

$11.6M

vol

6 deals

Broker

Summit 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