Updated Nov 17, 2023
Jaspal Singh Minhas Acquires Gas Station In Jackson Heights, Queens For $3.1M
88-20 Astoria Boulevard, Jackson Heights, New York 11372, USA
$3,125,000
$1,313/SF
Building Size
2,379 SF
Asset Type
Commercial
Closing
May 8, 2023
About this deal
AI
Jaspal Singh Minhas, through Pritam Realty LLC, has purchased a gas station located at 88-20 Astoria Boulevard in Jackson Heights, Queens for $3.1 million. The gas station has a building square footage of 2,379, with a price per square foot of $1,313. The sale price for the property is $3,125,000, with a price per buildable square foot (PPBSF) of $156.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $3,125,000
- Address: 88-20 Astoria Boulevard
- Market: Jackson Heights, Queens
- Buyer: Jaspal Singh Minhas
- Seller: Lorraine Medina
- Building Square Footage: 2,379
- Price per Square Foot (PPSF): $1,313
- Price per Buildable Square Foot (PPBSF): $156
Jaspal Singh Minhas, represented by Pritam Realty LLC, completed the purchase of the gas station from Lorraine Medina for $3.1 million. This transaction marks a significant investment for Minhas and his company, showcasing their interest in the commercial real estate market in Jackson Heights, Queens.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.08%
Cash-on-Cash
-1.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93