The Parkoff Organization Leases 2,500 SF Retail Space To Plumbers Haven In Five Towns
1215 Station Plaza
$45
$45/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
Oct 8, 2026
About this deal
AI
The property involved in this transaction is a retail asset located at 1215 Station Plaza in the Five Towns market. It has a square footage of 2,500 and the asking rent is set at $45 per foot. The lease term established is for 10 years under a modified gross lease structure.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $112,500
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
- Landlord: The Parkoff Organization
- Tenant: Plumbers Haven
- Landlord's Representative: Ian Leigh - Berkshire Hathaway HomeServices
- Tenant's Representatives: Chaim Zagelbaum & Josh Augenbaum - Augenbaum Realty
The lease marks a significant achievement for the tenant's representatives, Chaim Zagelbaum and Josh Augenbaum, as they note this as their first deal in the Five Towns. Their gratitude is extended to everyone involved in the transaction, showcasing their commitment to furthering their business in the area.
On the Map
$45
$45/SF
Retail
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Players
Hewlett 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
352511.11%
Cash-on-Cash
-100748.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93