Gruber Inc Acquires 3 Freestanding Drive-thru Stores In Nassau County For $1.7M
2350 Jerusalem Ave, North Bellmore, NY 11710, USA
$1,700,000
$63/SF
Building Size
27,000 SF
Asset Type
Other
Closing
Jun 15, 2020
About this deal
AI
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.
Players
North Bellmore Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.33%
Cash-on-Cash
-2.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93