Gruber Inc Acquires 3 Freestanding Drive-thru Stores In Nassau County For $1.7M
SOLD
$1,700,000
New York
See Similar DealsOther27,000 SF
Sold 06/16/2020
SOLD
Gruber Inc Acquires 3 Freestanding Drive-thru Stores In Nassau County For $1.7M
2350 Jerusalem Ave, North Bellmore, NY 11710, USA
See Similar DealsOther27,000 SF
Sold 06/16/2020
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$63
Total Square Footage:27,000 SF
Transaction Type:Sale
Three freestanding drive-thru stores located at 2885 Grand Ave, 4451 Austin Blvd, and 2350 Jerusalem Ave in Nassau County have been sold. The transaction took place on 06/16/2020 and the sale price was $1,700,000. The total square footage of the properties is 2,700, resulting in a price per square foot of $629.
Summary of transaction details
- Property Type: 3 Freestanding Drive-thru stores
- Transaction Amount: $1,700,000
- Address: 2885 Grand Ave, 4451 Austin Blvd, 2350 Jerusalem Ave
- Market: Nassau County
The seller of the properties was the Chernoff Trust represented by Michael Chernoff. The buyer, Gruber Inc, was represented by Stanley Gruber. The brokers involved in the deal were Lauren Santaniello and Dominique Florio from DomFlorio_RealEstate.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$90,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,039.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,058.87
Annual Debt Service$96,706.41
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