Roger Green Acquires Car Wash And Auto Repair Property In Plainview For 2.65M
1542 Old Country Road, Plainview, NY, USA
$2,650,000
$240/SF
Building Size
11,000 SF
Asset Type
Retail
Closing
Sep 23, 2020
About this deal
AI
A package deal in Plainview has recently closed at 1542 Old Country Road. The property includes a car wash spanning 3,500 square feet, an auto repair shop covering 7,500 square feet, and a sizeable 1-acre lot. The transaction took place on September 24, 2020, with a sale price of $2,650,000.
Summary of transaction details
- Property Type: Package Deal
- Transaction Amount: $2,650,000
- Square Footage: Car Wash (3,500 ft), Auto Repair Shop (7,500 ft), 1 Acre Lot (11,000 ft)
- Address: 1542 Old Country Road
- Market: Plainview
The buyer in this transaction was Roger Green, while the seller was Gary Qu. Representing both parties in the deal was broker Michael Steinberg from Empire Business Management.
Players
Plainview 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
5.99%
Cash-on-Cash
-1.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93