Mike Mowla Acquires Mixed-Use Property On Atlantic Ave. In Richmond Hill, Queens For $1.175M
SOLD
$1,175,000
New York
See Similar DealsMixed-use5,200 SF
Sold 04/25/2022
SOLD
Mike Mowla Acquires Mixed-Use Property On Atlantic Ave. In Richmond Hill, Queens For $1.175M
113-13 Atlantic Avenue, Queens, New York 11418, United States
See Similar DealsMixed-use5,200 SF
Sold 04/25/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$226
Total Square Footage:5,200 SF
Transaction Type:Sale
A mixed-use property located at 113-13 Atlantic Ave in Richmond Hill, Queens has been sold for a price of $1,175,000. The property spans an area of 5,200 square feet with a price per square foot of $225. The sale took place on 04/25/2022.
Summary of transaction details
- Property Type: Mixed-use
- Sale Price: $1,175,000
- Square Footage: 5,200
- Price Per Square Foot: $225
- Address: 113-13 Atlantic Ave.
- Market: Richmond Hill, Queens
The buyer, Mike Mowla, acquired the property from the seller, Isak Isakov. The transaction was facilitated by Yuriy Ustoyev from Asset CRG Advisors, LLC. Yuriy Ustoyev represented the seller in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$62,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,174.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,570.10
Annual Debt Service$66,841.19
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