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87 North Road

Sunrise Kitchen Leases Retail Space At 87 North Road In Hampton Bays With JD Cohen As Landlord
LEASEDRetail

Sunrise Kitchen Leases Retail Space At 87 North Road In Hampton Bays With JD Cohen As Landlord

87 North Road

$45

$45/SF

Building Size

1,700 SF

Asset Type

Retail

Closing

Jan 28, 2025

AI

The property involved in this transaction is located at 87 North Road in the Hampton Bays market. It is a retail asset with a total square footage of 1,700. The asking rent for this space is set at $45 per square foot. The lease type is a NNN Lease, indicating the tenant will cover property expenses in addition to rent.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $45/ft
  • Square Footage: 1,700
  • Address: 87 North Road
  • Market: Hampton Bays
  • Landlord: JD Cohen
  • Tenant: Sunrise Kitchen
  • Broker: Sean Deery - Compass

In this lease transaction, JD Cohen acts as the landlord while Sunrise Kitchen will convert the first-floor retail space into a full-service café and take-out food establishment. Sean Deery of Compass represented the deal, facilitating the transaction between the landlord and tenant.

Players

Sean Deery

Compass

Broker

$40.6M

vol

3 deals

Broker

Hampton Bays 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

352511.11%

Cash-on-Cash

-100748.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93