Updated Dec 4, 2024
Wonderland Leases Multifamily Property In Massapequa Park For $55/ft
5050 Sunrise Highway
$55
$55/SF
Building Size
3,650 SF
Asset Type
MultiFamily
Closing
Feb 1, 2024
About this deal
AI
The multifamily property located at 5050 Sunrise Highway in Massapequa Park has been leased. The tenant, Wonderland, has signed a 10-year lease for the property. The lease is a NNN lease, and the asking rent was $55 per square foot. The total square footage of the property is 3,650 square feet.
Summary of transaction details:
- Property Type: Multifamily
- Tenant: Wonderland
- Lease Type: NNN Lease
- Lease Term: 10 Years
- Asking Rent: $55 per square foot
- Square Footage: 3,650
Deborah Kashanian from Sotheby's International Realty represented the tenant, Wonderland, in this lease transaction.
Massapequa Park MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
288418.18%
Cash-on-Cash
-82430.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93