Wei Zhang Acquires Mixed-Use Property On Main St, Flushing For $2.2M
SOLD
$2,200,000
New York
See Similar DealsMixed-use6,386 SF
Sold 01/20/2021
SOLD
Wei Zhang Acquires Mixed-Use Property On Main St, Flushing For $2.2M
55-26 Main St, Flushing, NY, USA
See Similar DealsMixed-use6,386 SF
Sold 01/20/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$344
Total Square Footage:6,386 SF
Transaction Type:Sale
A mixed-use property located at 55-26 & 55-28 Main St. in Flushing has been sold for $2,200,000. The property encompasses 6,386 square feet, resulting in a price per square foot of $344. The transaction took place on January 20, 2021.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $2,200,000
- Square Footage: 6,386
- Price per Square Foot: $344
- Address: 55-26 & 55-28 Main St., Flushing
- Market: Flushing
The buyer of the property is Wei Zhang, while Michael Katz served as the seller. The transaction was facilitated by brokers Stephen R. Preuss and Kevin Louie from TeamPreuss at CushWake.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$117,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,816.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,429.12
Annual Debt Service$125,149.47
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