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

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SOLD
$3,500,000

New York

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Industrial
Sold 11/25/2024
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SOLD

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

3040 Veterans Memorial Highway

See Similar Deals
Industrial
Sold 11/25/2024
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Summary

NEW YORK
Asset Type:Industrial
Transaction Type:Sale

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
3 deals$19.8M volume
BROKER

Marko Glavadanovic
Avison Young
2 deals$7.7M volume(631) 807-7068
BROKER

Details

SOLD
IMAGE: Mark Pawlitschek & Marko Glavadanovi DATE: 11/25/2024 ADDRESS: 3040 Veterans Memorial Highway MARKET: Bohemia ASSET TYPE: Industrial ~ ACRES: 3.5 BUYER: 15 Hunt LLC SELLER: Great River Enterprises Two LLC BUYER'S REP: Marko Glavadanovic - CBRE (@CBRE) SELLER'S REP: Mark Pawlitschek - Compass (@Compass) SALE PRICE: $3,500,000 BSF: 50,000 ~ PPBSF: $70 NOTE: 15 Hunt LLC purchased a 3.5-acre property at 3040 Veterans Memorial Highway in Bohemia for $3.5 million, previously used as a bus depot. The buyer plans to develop a 50,000 square-foot multi-tenant industrial building on the site.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$186,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43