Li (Barbie) Li, Hangdong Zhang & Jin Huang Acquire Retail Property In Flushing For $6.75M
136-55 37th Avenue, Flushing, NY, USA
$6,750,000
$1,054/SF
Building Size
6,400 SF
Asset Type
Retail
Closing
Jun 8, 2020
About this deal
AI
A two-story prime retail commercial space in Flushing has been sold for a price of $6,750,000. Located at 136-55 37th Ave, the property offers approximately 6,400 square feet of newly renovated retail space and a kitchen. Situated on a busy street with heavy traffic, it is in close proximity to the largest parking lot in downtown Flushing. The property is conveniently located just two blocks away from the 7 train, LIRR, and multiple bus stops, making it easily accessible. This presents an excellent opportunity for businesses looking to establish themselves in downtown Flushing.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,750,000
- Address: 136-55 37th Ave, Flushing
- Market: Flushing
- Size: 6,400 square feet
- Price per square foot: $1,054
The buyers of the property are Li (Barbie) Li, Hangdong Zhang, and Jin Huang. On the other hand, the seller is Styliani Moustakas. For more information about leasing this retail space, interested parties can contact Barbie at 347-628-8818.
On the Map
$6,750,000
$1,054/SF
Retail
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.35%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93