Asif Khan Acquires Industrial Property From Novel Kitchens Inc For $2.2M In Jamaica
151-03 94th Avenue
$2,200,000
$275/SF
Building Size
8,000 SF
Asset Type
Industrial
Closing
Jul 29, 2026
AI
The asset involved in this transaction is an industrial property located at 151-03 94th Avenue in Jamaica. The sale was completed at a price of $2,200,000, covering a total square footage of 8,000. The price per square foot stands at $275.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,200,000
- Square Footage: 8,000
- Price per Square Foot: $275
- Buyer: Asif Khan
- Seller: Novel Kitchens, Inc.
- Date of Transaction: 07/29/2026
- Brokers Involved: Eli Roerden & Bobby Lawrence - Matthews
The deal involved key individuals including buyer Asif Khan and seller Novel Kitchens, Inc., with representation from brokers Eli Roerden and Bobby Lawrence of Matthews, who facilitated the transaction.
Players
Jamaica 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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93