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810 Broad Street

Delta's Newark Leases 8,500 SF Retail Space At 810 Broad Street In Newark, NJ
LEASEDRetail

Delta's Newark Leases 8,500 SF Retail Space At 810 Broad Street In Newark, NJ

810 Broad Street

$24

$24/SF

Building Size

8,500 SF

Asset Type

Retail

Closing

Feb 1, 2023

AI

The retail property located at 810 Broad Street in Newark, NJ has been leased. The landlord, Broad Street Ventures Urban Renewal, has entered into a lease agreement with the tenant, DELTA'S NEWARK. The lease term is for 10 years.

Summary of transaction details

  • Property Type: Retail
  • Asking Rent: $24/ft
  • Size: 8,500 sq ft
  • Address: 810 Broad Street, Newark, NJ
  • Market: Newark, NJ

The lease was facilitated by the brokers Christian Benedetto Jr., Jason Crimmins (SIOR, CCIM), Alessandro Conte (SIOR, CCIM), Michael Schipper (SIOR), and Peter Murano (SIOR) from The Blau & Berg Company. They represented both the landlord and the tenant in the deal.

Players

Jason Crimmins

The Blau & Berg Company

Broker

3 deals

Broker

Market 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

660958.33%

Cash-on-Cash

-188903.92%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93