Mike Barrett Acquires Retail Property In Flushing, Queens For $9.5M
244-05 Northern Blvd, Queens, New York 11363, United States
$9,500,000
$3,710/SF
Building Size
2,560 SF
Asset Type
Retail
Closing
Feb 16, 2022
AI
The retail property located at 244-05 Northern Blvd. in Flushing, Queens has been sold for a total of $9,500,000. The property spans 2,560 square feet, resulting in a price per square foot of $3,710.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $9,500,000
- Address: 244-05 Northern Blvd., Flushing, Queens
- Market: Flushing, Queens
The buyer of the property is Mike Barrett, while the seller is Eyob Mamo. The deal was facilitated by brokers Blake Benitez and Aaron E from Silber Investment Properties.
Players
Great Neck 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
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93