Naagel Aaraim Acquires Mixed-Use Property On Washington Avenue For $1.2M
12 Washington Avenue & 14 Washington Avenue
$1,200,000
$155/SF
Building Size
6,000 SF
Asset Type
Mixed-use
Closing
Nov 17, 2023
About this deal
AI
The mixed-use property located at 12-14 Washington Avenue in Suffolk County has been sold in a recent transaction. The property consists of a total square footage of 6,000 and was sold for a price of $1,200,000, resulting in a price per square foot of $200.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,200,000
- Address: 12-14 Washington Avenue
- Market: Suffolk County
- Buyer: Naagel Aaraim
- Seller: Lou Evans
- Buyer's Representative: Mamadouh Ahmed - Triple Platinum Realty
- Seller's Representative: Luca DiCiero & Giuseppe Gregorio - NY Space Finders
The deal was facilitated by Luca DiCiero & Giuseppe Gregorio from NY Space Finders, who represented the seller, Lou Evans. On the buyer's side, Mamadouh Ahmed from Triple Platinum Realty acted as the representative for Naagel Aaraim.
Players
West Sayville Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93