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49 West Allendale Avenue

Ritual Fitness Leases 3206 Square Feet At Allendale Town Center With Broker Kevin Pelio
LEASEDRetail

Ritual Fitness Leases 3206 Square Feet At Allendale Town Center With Broker Kevin Pelio

49 West Allendale Avenue

Building Size

3,206 SF

Asset Type

Retail

Closing

Jan 14, 2025

AI

The property asset involved in this lease transaction is a retail space located at 49 West Allendale Avenue in Allendale, Bergen County. The space measures 3,206 square feet and is part of the Allendale Town Center, which has a total area of 79,374 square feet. This shopping center is anchored by Acme supermarket.

Summary of transaction details:

Ritual Fitness has secured this location as its first establishment, which highlights the company's expansion efforts in the Bergen County area. Kevin Pelio of Azarian Realty Group played a crucial role in facilitating this lease deal.

Players

Kevin Pelio

Azarian Realty Group

Broker

9 deals

Broker

Allendale 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