The Devli Group Leases Retail Space In Union City To Musa Alsaedi's C-store
4900 Bergenline Avenue, Union City, New Jersey 07087, United States
Building Size
973 SF
Asset Type
Retail
Closing
Jun 7, 2022
AI
The property asset involved in this closed transaction is a retail space located at 4900 Bergenline Ave in Union City. The landlord, The Devli Group, leased the space to Musa Alsaedi, who will be operating a C-store. The transaction was facilitated by brokers Chris Conway, Roy Paret, and Neil Goldstein of The Goldstein Group. The lease was signed on 06/08/2022.
Summary of transaction details
- Property Type: Retail
- Transaction Date: 06/08/2022
- Address: 4900 Bergenline Ave, Union City
- Market: Union City
- Landlord: The Devli Group
- Tenant: Musa Alsaedi - C-store
- Brokers: Chris Conway, Roy Paret, and Neil Goldstein - The Goldstein Group
- Asking Rent: $80/ft.
- Square Footage: 973
The property transaction involved the lease of a retail space to Musa Alsaedi, who will be running a C-store at the address. The deal was handled by brokers Chris Conway, Roy Paret, and Neil Goldstein of The Goldstein Group. It is worth noting that there is only one available space left, measuring 1,093 sq ft and built out as a restaurant.
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