The Picklr Inks 10 Year Lease At 3124 Jericho Turnpike Long Island For $35 Per Foot
3124 Jericho Turnpike
$1,673,000
$1,673,000/SF
Building Size
47,800 SF
Asset Type
Retail
Closing
Oct 23, 2025
AI
The retail asset located at 3124 Jericho Turnpike in Long Island has been leased for a total of $35 per square foot. The property encompasses a total area of 47,800 square feet and the agreement involves a modified gross lease lasting for a period of 10 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $35/ft
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
- Landlord: Sterling Organization
- Tenant: The Picklr
- Tenant's Representative: Mani Nagpal - Global Realty Services
The deal features Sterling Organization as the landlord and The Picklr as the tenant, with Mani Nagpal from Global Realty Services representing the tenant in this transaction.
Players
East Northport 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
9.48%
Cash-on-Cash
-2.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93