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
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
660958.33%
Cash-on-Cash
-188903.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93