Updated Oct 12, 2026
Powerhouse Gym Leases Retail Space At 918 Bergen Avenue Jersey City For 20 Years At $30/ft
918 Bergen Avenue
Building Size
30,000 SF
Asset Type
Retail
Closing
Oct 6, 2026
About this deal
AI
The property asset involved is a retail space located at 918 Bergen Avenue, Jersey City, NJ, comprising 30,000 square feet. The asking rent for this asset is set at $30 per square foot, and it operates under a single net lease with a term of 20 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $30/ft
- Lease Term: 20 Years
- Lease Type: Single Net Lease
- Landlord: Optimum Properties
- Tenant: Powerhouse Gym
- Brokers: Avi Akiva & Morris Mishan - Momentum Realty Group
Avi Akiva and Morris Mishan represented the brokerage side of the transaction through Momentum Realty Group. They played a crucial role in facilitating the lease agreement between the landlord, Optimum Properties, and the tenant, Powerhouse Gym.
On the Map
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
528766.67%
Cash-on-Cash
-151123.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93