Freddy Martinez Leases Retail Space To Happy Spa & Massage For 5 Years In Jackson Heights
79-20 Roosevelt Avenue & 40-02 80th Street
Building Size
2,050 SF
Asset Type
Retail
Closing
Aug 25, 2026
About this deal
AI
The asset involved in this lease transaction is a retail space located at 79-20 Roosevelt Avenue and 40-02 80th Street in the Jackson Heights & Elmhurst market. The asking rent is $80 per square foot, with a total area of 2,050 square feet. The lease is structured as a Modified Gross Lease with a term of 5 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $80/ft
- Lease Term: 5 Years
- Landlord: Freddy Martinez
- Tenant: Happy Spa & Massage
- Landlord's Rep: Itai Khalili & Elliot Setareh - Aineh Property Group
- Tenant's Rep: Brian Ainehsazan - Aineh Property Group
- Square Footage: 2,050
The key individuals in this transaction include Freddy Martinez, the landlord, and Happy Spa & Massage, the tenant, represented by Brian Ainehsazan. Itai Khalili and Elliot Setareh also represented the landlord in this deal. Notably, Happy Spa & Massage has secured two new locations within a month, demonstrating their expansion efforts on Roosevelt Avenue and surrounding areas.
On the Map
Retail
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Players
Jackson Heights 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
198287.50%
Cash-on-Cash
-56671.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93