Ostroff Electrical Contractors Acquires Mixed-use Property In Long Island For $1.3M
SOLD
$1,325,000
New York
See Similar DealsMixed-use6,250 SF
Sold 10/18/2021
SOLD
Ostroff Electrical Contractors Acquires Mixed-use Property In Long Island For $1.3M
181-189 Merrick Boulevard, Queens, NY, USA
See Similar DealsMixed-use6,250 SF
Sold 10/18/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$212
Total Square Footage:6,250 SF
Transaction Type:Sale
Located at 181-189 Merrick Road in Long Island, this mixed-use property was recently sold in a transaction. The property spans 6,250 square feet and boasts a selling price of $1,325,000, resulting in a price per square foot of $212.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,325,000
- Address: 181-189 Merrick Road, Long Island
- Market: Long Island
Ostroff Electrical Contractors, represented by Elizabeth Holmes from The Rochlin Organization, acquired the property. Acting as the seller's representative was Mike Ferra from Southgate Realty. The transaction marks an important milestone for both parties involved.
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Details
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$70,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,707.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,281.18
Annual Debt Service$75,374.11
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