Samschick Micheal Leases Retail Space At 114 Chestnut Street To Il Gusto Restaurant
114 Chestnut Street
$24
$24/SF
Building Size
2,000 SF
Asset Type
Retail
Closing
Apr 27, 2026
AI
The retail property located at 114 Chestnut Street in Philadelphia, PA has a total square footage of 2,000 and is part of the market offering in that area. The property has been leased for a term of 10 years under a NNN lease structure with an asking rent of $24.72 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $24.72/ft.
- Lease Terms: 10 Years
- Lease Type: NNN
- Landlord: Samschick Micheal
- Tenant: Florent Kupa - Il Gusto Restaurant
- Landlord's Representative: Billy Creagh - National Realty Commercial
Key individuals involved in this lease transaction include the landlord, Samschick Micheal, and tenant, Florent Kupa, who represents Il Gusto Restaurant. Billy Creagh served as the landlord's representative from National Realty Commercial, facilitating the terms of the lease agreement.
Players
Philadelphia 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