Mavrik Properties Leases Retail Space To Wilson's Scooter At 35-23 Farrington Street
35 23 Farrington Street
$50
$50/SF
Building Size
1,650 SF
Asset Type
Retail
Closing
Jan 30, 2026
AI
The asset involved in this transaction is a retail space located at 35-23 Farrington Street in Flushing, with a square footage of 1,650. The asking rent for this property is set at $50 per square foot and is structured under a modified gross lease for a duration of 5 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $50/ft
- Square Footage: 1,650
- Address: 35-23 Farrington Street
- Market: Flushing
- Landlord: Mavrik Properties
- Tenant: Wilson's Scooter
- Landlord's Representative: Steve Lelekidis - Modern Spaces
- Lease Term: 5 Years
- Lease Type: Modified Gross Lease
Key individuals in this transaction include Mavrik Properties as the landlord and Wilson's Scooter as the tenant. The deal was facilitated by Steve Lelekidis from Modern Spaces, representing the landlord in this lease agreement.
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
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93