Greg Jemal Acquires Retail Property From Klein Group LLC In Union For $3.545M
2702 US Route 22
$3,545,000
$729/SF
Building Size
4,859 SF
Asset Type
Retail
Closing
Jun 14, 2024
AI
The $3,545,000 sale of a net-net leased Vitamin Shoppe location at 2702 US-22 in Union, New Jersey was facilitated by Marcus & Millichap. Situated on Route 22, a prime commercial highway, this 4,859-square-foot property garnered significant interest due to its strategic positioning and the high demand for net-leased assets in northern New Jersey's retail corridors.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,545,000
- Address: 2702 US Route 22
- Market: Union
- Square Footage: 4,859
Alan Cafiero, David Cafiero, and Dean Matuszewicz from Marcus & Millichap played a crucial role as the brokers in this transaction, representing the buyer and the seller. Greg Jemal acted as the buyer while Klein Group LLC was the seller of the retail property.
Players
Union Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.47%
Cash-on-Cash
-1.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93