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
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