Updated Sep 5, 2024
Jeffrey Cichon Acquires 5,600 SF Industrial Property In Bay Shore For $1.9M
321 Orinoco Drive
$1,900,000
$339/SF
Building Size
5,600 SF
Asset Type
Industrial
Closing
Mar 28, 2023
About this deal
AI
The sale of 321 Orinoco Drive, Bay Shore, NY has been successfully brokered by Cushman & Wakefield’s Team Abbondandolo. The transaction involved two industrial buildings totaling 5,600 square feet, situated on a single lot. The property was sold for $1,900,000, at a price of $339 per square foot. Notably, the asset comes with full approvals for an auto repair business, making it a turnkey opportunity for a buyer looking to expand their operations. Its strategic location near Brightwaters Village, the Long Island Railroad, and main roadways adds to its appeal.
Summary of Transaction Details:
- Property Type: Industrial
- Sale Price: $1,900,000
- Square Footage: 5,600
- Price per Square Foot: $339
- Address: 321 Orinoco Drive, Bay Shore, NY
- Market: Bay Shore
- Buyer: Jeffrey Cichon
- Seller: Henry Dardis
- Brokers: Daniel Abbondandolo & Victor Little (Victor.R.Little) - Cushman & Wakefield
Cushman & Wakefield’s Team Abbondandolo facilitated the transaction and can provide additional information.
Players
Market 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
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93