Updated Dec 4, 2024
Salted Lime Bar & Kitchen Renews 5,000 SF Lease In Somerville
46 East Main Street
Building Size
5,000 SF
Asset Type
Retail
Closing
Jun 25, 2024
About this deal
AI
The property at 46 East Main Street in Somerville is a 5,000-square-foot retail space leased by Salted Lime Bar & Kitchen. Somerville Urban Renewal LLC served as the landlord for this transaction.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not provided
- Address: 46 East Main Street
- Market: Somerville
- Tenant: Salted Lime Bar & Kitchen
- Landlord: Somerville Urban Renewal LLC
- Tenant's REP: Tim Deluccia - Deluccia Commercial Group - Berkshire Hathaway HomeServices
Tim Deluccia of Deluccia Commercial Group from Berkshire Hathaway HomeServices represented Salted Lime Bar & Kitchen in the lease renewal deal. Additionally, Deluccia Commercial Group was involved in several other lease renewals in Somerville for companies like Asentech LLC, Northeast Speech & Language Services, Symbology Enterprises, Bliss Coffee Lounge, and IPT LLC.
On the Map
Retail
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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