Ofeck Family Acquires Retail Property In Nassau County For $1.85M
SOLD
$1,850,000
New York
See Similar DealsRetail3,372 SF
Sold 08/03/2022
SOLD
Ofeck Family Acquires Retail Property In Nassau County For $1.85M
104 Mineola Avenue
See Similar DealsRetail3,372 SF
Sold 08/03/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$548
Total Square Footage:3,372 SF
Transaction Type:Sale
The retail property located at 96-104 Mineola Ave. in Nassau County has been sold for $1,850,000. The property spans 3,372 square feet, resulting in a price per square foot of $548. The transaction was finalized on August 3, 2022. The buyer of the property was the Ofeck Family, while the seller was the Vohora Family.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,850,000
- Address: 96-104 Mineola Ave.
- Market: Nassau County
- Square Footage: 3,372
- Price per Square Foot: $548
The deal was facilitated by brokers Michael Tuccillo and Anthony Cerrone from The Tuccillo Group, representing Marcus & Millichap. Their expertise and negotiation skills played a significant role in the successful completion of the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$98,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,572.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,769.94
Annual Debt Service$105,239.33
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