Updated Oct 28, 2024
AFC Urgent Care Leases Retail Space In Union City For $45/ft
4200 Bergenline Avenue, Union City, NJ, USA
Building Size
5,200 SF
Asset Type
Retail
Closing
Nov 5, 2021
About this deal
AI
The property located at 4200 Bergenline Avenue in Union City has been leased. The retail space, spanning 5,200 square feet, was leased by AFC Urgent Care. The lease terms include a 10-year agreement with two additional options of five years each. The lease type is an NNN (Triple Net) Lease. The property is owned by Mehra Properties.
Summary of transaction details
- Property Type: Retail
- Address: 4200 Bergenline Avenue, Union City
- Tenant: AFC Urgent Care
- Lease Terms: 10 years with (2) 5-year options
- Lease Type: NNN Lease
The lease deal was facilitated by Christopher Conway and Alicea Santella of The Goldstein Group, who acted as brokers in the transaction.
It is worth noting that the leased space is divided into two levels, with 2,600 square feet on the ground level and an additional 2,600 square feet on the lower level.
Players
Union City 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