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4900 Bergenline Avenue, Uni...

The Devli Group Leases Retail Space In Union City To Musa Alsaedi's C-store
LEASEDRetail

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

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

Christopher Conway

Atlantic Coastal Real Estate

Broker

$12.1M

vol

40 deals

Broker
TG
The Devli GroupLandlord

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