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10 Nevins Street

Mills Dental PLLC Leases Retail Space At 10 Nevins St. In Downtown Brooklyn Represented By Brendan Thrapp & Nate Mallon - Dual Agency
LEASEDRetail

Mills Dental PLLC Leases Retail Space At 10 Nevins St. In Downtown Brooklyn Represented By Brendan Thrapp & Nate Mallon - Dual Agency

10 Nevins Street

$75

$75/SF

Building Size

1,926 SF

Asset Type

Retail

Closing

Jul 18, 2022

AI

10 Nevins St. in Downtown Brooklyn has been leased for retail use. The property, owned by Adam America, will be occupied by Mills Dental PLLC. The deal was handled by Brendan Thrapp and Nate Mallon of Dual Agency. The asking rent for the space was $75 per square foot, and it spans a total of 1,926 square feet. This prime ground floor retail space has attracted another satisfied medical tenant, as represented by Verada.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not disclosed
  • Address: 10 Nevins St.
  • Market: Downtown Brooklyn
  • Landlord: Adam America
  • Tenant: Mills Dental PLLC
  • Brokers: Brendan Thrapp & Nate Mallon - Dual Agency
  • Asking Rent: $75/ft.
  • Square Footage: 1,926

The deal was facilitated by Brendan Thrapp and Nate Mallon, who represented the interests of both the landlord and the tenant in this transaction. Another satisfied medical tenant, represented by Verada, is set to occupy this desirable retail space.

Players

Nathaniel Mallon

Verada

Broker

$9.8M

vol

24 deals

Broker

Adam America

Northlink Capital

Landlord

$289.6M

vol

12 deals

Landlord

Brooklyn Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

211506.67%

Cash-on-Cash

-60449.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93