Mike Ciatto Acquires Single-Tenant Medical Office Building In Jamaica For $730K
SOLD
$730,000
New York
See Similar DealsOffice1,800 SF
Sold 03/16/2020
SOLD
Mike Ciatto Acquires Single-Tenant Medical Office Building In Jamaica For $730K
208-11 Hillside Avenue, Jamaica, NY 11427, USA
See Similar DealsOffice1,800 SF
Sold 03/16/2020
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$405
Total Square Footage:1,800 SF
Transaction Type:Sale
The single-tenant medical office building located at 208-11 Hillside Avenue in Jamaica has been sold for $730,000. The property consists of 1,800 square feet, resulting in a price per square foot of $406. The transaction was completed with a capitalization rate of 6.6%.
Summary of transation details
- Property Type: Single-Tenant Medical Office Building
- Transaction Amount: $730,000
- Square Footage: 1,800
- Price Per Square Foot: $406
- Capitalization Rate: 6.6%
- Market: Jamaica
The seller of the property was Dave Schnapp, while the buyer was Mike Ciatto. The transaction was facilitated by Charlie Dupont from TeamPreuss.
Additionally, it is worth noting that there is a NNN 10-Year Lease Term remaining for the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$38,933.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,593.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,460.57
Annual Debt Service$41,526.87
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