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Carco Builders Acquires Retail Property In Suffolk County For $14.8M

Property Image
SOLD
$14,777,000
Michael Tuccillo
Matthew Klang

New York

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Retail55,000 SF
Sold 07/22/2022
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Property Image
SOLD

Carco Builders Acquires Retail Property In Suffolk County For $14.8M

1414 Old Country Road

See Similar Deals
Retail55,000 SF
Sold 07/22/2022
Michael Tuccillo
Matthew Klang
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$268
Total Square Footage:55,000 SF
Transaction Type:Sale

A retail property located at 1414 Old Country Rd. in Suffolk County has been sold for a total of $14,777,000. The property spans across 55,000 square feet, resulting in a price per square foot of $268. The transaction involved the buyer, Carco Builders, and the seller, Greisten Family. The deal was facilitated by Michael Tuccillo and Matthew Klang from Marcus & Millichap.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $14,777,000
  • Address: 1414 Old Country Rd.
  • Market: Suffolk County

Carco Builders acted as the buyer in the transaction, while the Greisten Family served as the seller. Michael Tuccillo and Matthew Klang, representing Marcus & Millichap, worked as brokers in the deal. The successful sale of the retail property highlights the collaboration between all parties involved and signifies a significant transaction in the Suffolk County market.

Players

Matthew Klang
Marcus & Millichap
Matthew Klang
5 deals$47M volume
BROKER
Michael Tuccillo
Marcus & Millichap
Michael Tuccillo
27 deals$582.4M volume
BROKER

Details

SOLD
IMAGE: Michael Tuccillo & Matthew Klang DATE: 07/22/2022 ADDRESS: 1414 Old Country Rd. MARKET: Suffolk County ASSET TYPE: Retail BUYER: Carco Builders SELLER: Greisten Family BROKERS: Michael Tuccillo (@TheTuccilloGroup) & Matthew Klang - Marcus & Millichap SALE PRICE: $14,777,000 SF: 55,000 ~ PPSF: $268

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$52,499.55
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