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70 Commerce Street

Aahu Barah Acquires Industrial Building In Hicksville From Jonathan Lee For $5.15M
SOLDIndustrial

Aahu Barah Acquires Industrial Building In Hicksville From Jonathan Lee For $5.15M

70 Commerce Street

$5,150,000

$286/SF

Building Size

18,000 SF

Asset Type

Industrial

Closing

May 7, 2025

AI

Aahu Barah, an Afghan and Central Asian food distributor, purchased an 18,000-square-foot industrial building located at 70 Commerce Street in Hicksville for $5.15 million. The acquisition was made to support the company's expansion of its operations within Long Island.

Summary of transaction details:

The transaction was facilitated by brokers Gary Chimeri and Michael Berndt from Paramount Properties Group, representing the parties involved in the deal. This acquisition aligns with Aahu Barah's strategy to enhance its operational capacity in the region.

Players

Gary Chimeri

Broker

$16.7M

vol

2 deals

Broker

Hicksville 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

3.08%

Cash-on-Cash

-0.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93