ACHS Management Corp Leases Retail Space To Lavanderia Express At 89-10 Jamaica Avenue
89-10 Jamaica Avenue
$40
$40/SF
Building Size
7,830 SF
Asset Type
Retail
Closing
Aug 29, 2024
About this deal
AI
The property involved in this lease transaction is a retail space located at 89-10 Jamaica Avenue in Woodhaven, Queens. The asset type is classified as retail, consisting of a single-story building with a total square footage of 7,830. The asking rent for the property was set at $40 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $40/ft
- Square Footage: 7,830
- Address: 89-10 Jamaica Avenue
- Market: Woodhaven
- Landlord: ACHS Management Corp
- Tenant: Lavanderia Express
- Broker: Allie Beyda - BH Brokerage Group
- Lease Type: Retail Lease
This transaction was facilitated by Allie Beyda from BH Brokerage Group, representing the leasing of the former Rite Aid building. The property has been leased to a successful laundromat operator with multiple locations, highlighting its suitability for the tenant's business model. Additionally, the building's prime location provides excellent visibility on Jamaica Avenue.
On the Map
$40
$40/SF
Retail
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Players
Queens 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
396575.00%
Cash-on-Cash
-113342.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93