Wells Fargo Bank Leases Retail Space In Douglaston, Queens At 248-40 Northern Boulevard
248-40 Northern Boulevard
$300
$300/SF
Building Size
2,964 SF
Asset Type
Retail
Closing
Sep 1, 2023
About this deal
AI
A retail property located at 248-40 Northern Boulevard in Douglaston, Queens has been leased. The property spans 2,964 square feet and the lease is of the NNN type. The asking rent for the space was $300 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: N/A
- Address: 248-40 Northern Boulevard, Douglaston, Queens
- Market: Douglaston, Queens
- Tenant: Wells Fargo Bank
- Landlord: Chai 26 NB - Chaim Ryan
The landlord's representative in the deal was David Payami from Capital Property Partners, while the tenant was represented by Chris Betting and Annette Healey from CBRE.
Capital Property Partners successfully negotiated the NNN lease for the property at a record-breaking price per square foot. For any leasing needs, interested parties can reach out to David Payami at Capital Property Partners.
Contact information for David Payami:
Phone: 212-252-1200 Ext 136
Email: [email protected]
On the Map
$300
$300/SF
Retail
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Players
Queens 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
52876.67%
Cash-on-Cash
-15112.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93