Premiere Pickleball Leases Retail Space On Staten Island For 10 Years
236 Richmond Valley Road
$30
$30/SF
Building Size
14,000 SF
Asset Type
Retail
Closing
May 7, 2024
AI
The retail property located at 236 Richmond Valley Road in Staten Island was recently leased to Premiere Pickleball. The property spans 14,000 square feet and features an NNN lease arrangement with an asking rent of $30 per square foot. The lease term spans 10 years, highlighting a long-term commitment from both parties involved in the transaction.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: Not specified
- Landlord: Marvin Beinhorn
- Tenant: Premiere Pickleball
- Broker: Josh Augenbaum & Jack Friedman - Augenbaum Realty
- Address: 236 Richmond Valley Road, Staten Island
- Market: Staten Island
- Lease Type: NNN Lease
- Lease Term: 10 Years
- Asking Rent: $30/ft
- SF: 14,000
The lease deal was facilitated by brokers Josh Augenbaum and Jack Friedman from Augenbaum Realty, who represented both the landlord, Marvin Beinhorn, and the tenant, Premiere Pickleball, in this transaction. Their expertise and negotiation skills played a crucial role in bringing the deal to fruition, marking a successful partnership between all involved parties.
Players
Staten Island 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
528766.67%
Cash-on-Cash
-151123.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93