Laundry Mart Signs 25-Year Lease For Retail Space In Throggs Neck, Bronx
2883 Miles Ave Bronx, NY 10465, USA
$22
$22/SF
Building Size
6,050 SF
Asset Type
Retail
Closing
Jun 2, 2023
About this deal
AI
The retail property located at 2883 Miles Avenue in Throggs Neck, Bronx has been leased. The asset spans approximately 6,050 square feet and the lease term is for 25 years. The tenant for this property is Laundry Mart.
Summary of transaction details
- Property Type: Retail
- Address: 2883 Miles Avenue, Throggs Neck, Bronx
- Tenant: Laundry Mart
- Lease Term: 25 years
The lease deal was facilitated by brokers Epifanio Vargas and Michael Gilbert of Gilco Realty. They represented the tenant, Laundry Mart, in this transaction.
The asking rent for this property was $22 per square foot, resulting in a total lease value of approximately $133,100 per year.
On the Map
$22
$22/SF
Retail
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Players
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Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
721045.45%
Cash-on-Cash
-206077.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93