Updated Dec 4, 2024
Shaka Kitchen Leases Retail Space In Morristown, NJ From The Silverman Group
62 South Street
$38
$38/SF
Building Size
1,426 SF
Asset Type
Retail
Closing
May 1, 2023
About this deal
AI
The Silverman Group has completed a lease transaction for a retail property located at 62 South Street in Morristown, NJ. The asset, measuring 1,426 square feet, was leased to Shaka Kitchen, a fast casual eatery catering to every dietary need. The lease term is set for 10 years, with an asking rent of $38 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: N/A
- Address: 62 South Street, Morristown, NJ
- Market: Morristown, NJ
- Square Footage: 1,426
Shaka Kitchen, represented by Cara DiTommaso from Brown Harris Stevens, brings their exciting new business to the vibrant community of Morristown, NJ.
Players
Morristown 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
417447.37%
Cash-on-Cash
-119307.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93