Meridian Capital Brokers Facilitate $7.9M NNN Retail Sale In Flushing
SOLD
$7,900,000
+ 1
New York
See Similar DealsRetail3,131 SF
Sold 04/29/2024
SOLD
Meridian Capital Brokers Facilitate $7.9M NNN Retail Sale In Flushing
146-26 Northern Boulevard
See Similar DealsRetail3,131 SF
Sold 04/29/2024
+ 1
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$2,523
Total Square Footage:3,131 SF
Transaction Type:Sale
The property at 146-26 Northern Boulevard in Flushing, Queens, is an NNN Retail with Parking / Long-Term Development asset. The property was sold for $7,900,000, spanning 3,131 square feet with a price per square foot of $2,523 and a capitalization rate of 3.55%.
Summary of transation details:
- Property Type: NNN Retail with Parking / Long-Term Development
- Transaction Amount: $7,900,000
- Market: Flushing, Queens
- Size: 3,131 SF
- Price Per Square Foot: $2,523
- Capitalization Rate: 3.55%
- Brokers: Thomas Donovan, Tommy Lin, Eugene Kim & Abby Todd - Meridian Capital Group
The sale of the property involved a team of brokers from Meridian Capital Group, namely Thomas Donovan, Tommy Lin, Eugene Kim, and Abby Todd, who facilitated the transaction.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$421,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,067.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,450.03
Annual Debt Service$449,400.36
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