Zhang Enterprises Acquires Retail Property In Rockville Centre For $4.5M
1 Merrick Road
$4,500,000
$818/SF
Building Size
5,500 SF
Asset Type
Retail
Closing
Dec 14, 2019
About this deal
AI
A retail property located at 1 Merrick Road in Rockville Centre has been sold for $4,500,000. The property spans 5,500 square feet, resulting in a price per square foot of $818. The transaction took place on December 15, 2019.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,500,000
- Square Footage: 5,500
- Price per Square Foot: $818
- Market: Rockville Centre
The buyer involved in the transaction is Zhang Enterprises, represented by Connie Zhang. The seller is Don Gellestino. Michael Steinberg, from @EmpireBusinessMGMT, acted as the broker in this deal.
Players
Rockville Centre Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93