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504 Myrtle Ave

MedRite Urgent Care Leases 2,500 Square Feet Retail Space At 504 Myrtle Ave Brooklyn
LEASEDRetail

MedRite Urgent Care Leases 2,500 Square Feet Retail Space At 504 Myrtle Ave Brooklyn

504 Myrtle Ave

Building Size

2,500 SF

Asset Type

Retail

Closing

Jan 1, 2017

AI

The property asset involved in the transaction is a retail space located at 504 Myrtle Ave in Brooklyn. The leased area encompasses a total of 2,500 square feet.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not disclosed
  • Address: 504 Myrtle Ave
  • Market: Brooklyn
  • Square Feet: 2500.0
  • Tenant: MedRite Urgent Care
  • Landlord: Michael Orbach
  • Broker Representatives: Jake Bistrizky, Thomas Caliendo (Tide Realty Group), Daniel D. DePasquale

The key individuals involved in the deal include the landlord, Michael Orbach, and the tenant, MedRite Urgent Care, which arranged the lease through the represented brokering teams. The deal showcases the involvement of multiple broker representatives with distinct roles in facilitating the transaction.

Players

Thomas Caliendo

Tide Realty Group

Broker

$7.6M

vol

45 deals

Broker

Michael Orbach

Landlord

2 deals

Landlord
MC
MedRite Urgent CareTenant

Brooklyn Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93