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3040 Veterans Memorial Highway

Updated Dec 4, 2024

15 Hunt LLC Purchases 3.5 Acre Industrial Property In Bohemia For $3.5 Million
SOLDIndustrial

15 Hunt LLC Purchases 3.5 Acre Industrial Property In Bohemia For $3.5 Million

3040 Veterans Memorial Highway

$3,500,000

Building Size

Asset Type

Industrial

Closing

Nov 25, 2024

About this deal

AI

15 Hunt LLC has acquired a 3.5-acre property located at 3040 Veterans Memorial Highway in Bohemia, with a transaction price of $3.5 million. The property, which was previously utilized as a bus depot, will see plans for the development of a 50,000 square-foot multi-tenant industrial building.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $3,500,000
  • Address: 3040 Veterans Memorial Highway
  • Market: Bohemia
  • Acres: 3.5
  • Building Square Footage: 50,000
  • Price Per Building Square Foot: $70
  • Buyer: 15 Hunt LLC
  • Seller: Great River Enterprises Two LLC
  • Buyer's Representative: Marko Glavadanovic - CBRE
  • Seller's Representative: Mark Pawlitschek - Compass

Marko Glavadanovic, representing the buyer, and Mark Pawlitschek, representing the seller, played key roles in facilitating this transaction. Both are associated with reputable firms, CBRE and Compass, respectively, which underscores the professional support available to both parties throughout the deal.

Players

Mark Pawlitschek

NAI Global

Broker

$19.8M

vol

3 deals

Broker

Bohemia 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

4.53%

Cash-on-Cash

-1.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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