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378 Bergen Boulevard, Fairv...

Metrodoc Urgent Care Leases Retail Space In Fairview, NJ With Landlord David Choi Newbergenline
LEASEDRetail

Metrodoc Urgent Care Leases Retail Space In Fairview, NJ With Landlord David Choi Newbergenline

378 Bergen Boulevard, Fairview, New Jersey 07022, United States

Building Size

3,295 SF

Asset Type

Retail

Closing

Mar 24, 2022

AI

The retail property located at 378 Bergen Blvd in Fairview, NJ has been leased to Metrodoc Urgent Care. The lease terms are for 10 years with an asking rent of $25 per square foot. The space spans a total of 3,295 square feet and is available for a triple net lease. The landlord, David Choi Newbergenline, facilitated the deal through broker Chris Conway from The Goldstein Group.

Summary of transaction details:

  • Property Type: Retail
  • Address: 378 Bergen Blvd, Fairview, NJ
  • Tenant: Metrodoc Urgent Care
  • Lease Terms: 10 years
  • Asking Rent: $25/ft.
  • SF: 3,295
  • Lease Type: NNN
  • Landlord: David Choi Newbergenline
  • Broker: Chris Conway - The Goldstein Group

Chris Conway from The Goldstein Group was instrumental in securing this off-market deal. The lease includes the option for two additional 5-year terms. As part of their requirements, they are specifically looking for urban locations with parking and can accommodate spaces between 2,000 and 3,500 square feet. Interested parties can reach out to Chris Conway via email at [email protected].

Players

Christopher Conway

Atlantic Coastal Real Estate

Broker

$12.1M

vol

40 deals

Broker

David Choi

Landlord

$20M

vol

6 deals

Landlord

Fairview 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