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813 Summit Ave

Jersey Discount Wireless LLC Leases Retail Space At 813 Summit Ave Union City For $24/SF
LEASEDRetail

Jersey Discount Wireless LLC Leases Retail Space At 813 Summit Ave Union City For $24/SF

813 Summit Ave

$24

$24/SF

Building Size

2,000 SF

Asset Type

Retail

Closing

Oct 1, 2024

AI

The property asset involved in this transaction is a retail space located at 813 Summit Ave in Union City. The lease agreement has been set at a rate of $24.0 per square foot, encompassing a total area of 2,000 square feet.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $48,000
  • Lease Date: 10/01/2024
  • Tenant: Jersey Discount Wireless LLC
  • Landlord: Chunwu Wang
  • Brokers: Chris Vitiello - Grid Real Estate

This transaction involves key individuals, including the landlord Chunwu Wang and the tenant Jersey Discount Wireless LLC. The deal was facilitated by broker Chris Vitiello, representing Grid Real Estate, who played a crucial role in the leasing process.

Players

Chris Vitiello

Grid Real Estate

Broker

$12.3M

vol

11 deals

Broker

Chunwu Wang

Landlord
Landlord
JL
Jersey Discount Wireless LLCTenant

Union City Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

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