Frank Nicolas Acquires Industrial Property From Bobby Singh For $5.2 Million In Plainview
1538 Old Country Road
$5,200,000
$247/SF
Building Size
21,000 SF
Asset Type
Industrial
Closing
Mar 2, 2026
AI
The industrial property located at 1538 Old Country Road in Plainview was sold for a transaction price of $5,200,000. The asset encompasses a total area of 21,000 square feet, resulting in a price per square foot of $247.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $5,200,000
- Buyer: Frank Nicolas
- Seller: Bobby Singh
- Broker: Luciano Oliverio - Summit Commercial
Luciano Oliverio represented the seller, Bobby Singh, in this transaction, facilitating the deal on behalf of the seller.
Players
Plainview Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.05%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93