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35 23 Farrington Street

Mavrik Properties Leases Retail Space To Wilson's Scooter At 35-23 Farrington Street
LEASEDRetail

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

Steve Lelekidis

Modern Spaces

Broker

$18.9M

vol

18 deals

Broker

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