Wei Li Leases 25000 Sqft Retail Space From Jingang Shan On Northern Boulevard In Flushing
138 18 Northern Boulevard
$85
$85/SF
Building Size
25,000 SF
Asset Type
Retail
Closing
Apr 3, 2025
AI
The property is located at 138-18 Northern Boulevard, 1FL & Cellar in Flushing and consists of approximately 25,000 square feet of retail space. The asking rent is $85 per square foot. The lease is categorized as a NNN Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $85/ft
- Lease Type: NNN Lease
- Landlord: Jingang Shan
- Tenant: Wei Li
- Broker: Barbie Li - B Square Realty
- Ground Floor Area: 16,228 sqft
- Cellar Area: 8,733 sqft
Barbie Li's team successfully navigated complex logistics and competition to secure a long-term tenant for this property, which is part of a new development featuring residential units and significant parking facilities. The strategic location offers close proximity to local schools and public transport options.
Players
Flushing 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
186623.53%
Cash-on-Cash
-53337.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93