facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Office

/

Sale

/

19 Morris Avenue

Owens Truckmen Acquires 3,460 SF Office Building On 19 Morris Ave, Rockville Centre For $1.25M
SOLDOffice

Owens Truckmen Acquires 3,460 SF Office Building On 19 Morris Ave, Rockville Centre For $1.25M

19 Morris Avenue

$1,250,000

$361/SF

Building Size

3,460 SF

Asset Type

Office

Closing

Dec 16, 2022

AI

19 Morris Avenue in Rockville Centre, NY, has been sold in a closed transaction for $1,250,000. The property is an office building with a total of 3,460 square feet, resulting in a price per square foot of $361. The buyer of the property is Owens Truckmen, while the sellers are Dr. Solomon Genuth and Dr. Jeffrey Drucker. The deal was facilitated by the brokerage team of Daniel Abbondandolo and Joe Musso from Cushman & Wakefield.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $1,250,000
  • Address: 19 Morris Avenue, Rockville Centre, NY
  • Market: Rockville Centre
  • Square Footage: 3,460
  • Price Per Square Foot: $361
  • Buyer: Owens Truckmen
  • Seller: Dr. Solomon Genuth & Dr. Jeffrey Drucker
  • Brokers: Daniel Abbondandolo & Joe Musso - Cushman & Wakefield

Cushman & Wakefield's TEAM ABBONDANDOLO, represented the seller, successfully closed the deal for 19 Morris Avenue. The property is a 3,460-square-foot professional building located on a 9,079-square-foot lot. It features 8 parking spaces at the rear. The building recently underwent major capital improvements in 2021 when it operated as a radiology imaging center. With its prime location in Rockville Centre Village, the property is conveniently situated between Sunrise Highway and Merrick Road. Additionally, it is less than a mile away from Mt. Sinai South Nassau Hospital. The asset's proximity to Rockville Centre LIRR, which is just three blocks away, adds to its appeal as an end-user opportunity surrounded by various amenities.

Players

Daniel Abbondandolo

Cushman & Wakefield

Broker

$509.6M

vol

84 deals

Broker

Rockville Centre Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

12.69%

Cash-on-Cash

-3.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93