Norman Mendez Leases Retail Space At 1041 Flushing Avenue Brooklyn To Ron Colter For $50/ft
1041 Flushing Avenue
$50
$50/SF
Building Size
2,400 SF
Asset Type
Retail
Closing
Sep 1, 2026
About this deal
AI
The property asset involved in the transaction is a retail space located at 1041 Flushing Avenue in Brooklyn. The asset has a total square footage of 2,400 and is being leased under a double net lease arrangement with an asking rent of $50 per square foot. The lease term is set for 5 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $120,000
- Address: 1041 Flushing Avenue
- Market: Brooklyn
- Landlord: Norman Mendez
- Tenant: Ron Colter
- Landlord's Representative: Jessie Lookfong & Theo Eastwind - Capri Jet Realty
- Lease Term: 5 Years
- Lease Type: Double Net Lease
- Asking Rent: $50/ft
This retail leasing transaction involved tenant Ron Colter and landlord Norman Mendez, with landord's representatives Jessie Lookfong and Theo Eastwind from Capri Jet Realty facilitating the agreement. The lease is established at a rate reflective of the asset's market positioning.
On the Map
$50
$50/SF
Retail
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Players
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
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93