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62 South Street

Shaka Kitchen Leases Retail Space In Morristown, NJ From The Silverman Group
LEASEDRetail

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

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

Cara DiTommaso

Brown Harris Stevens

Broker

$1.3M

vol

3 deals

Broker
Silverman Group
Silverman GroupLandlord

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