Mike Lage Acquires Retail Property On 280 East Main Street In Elmsford For $4.1M
SOLD
$4,100,000
New York
See Similar DealsRetail2,200 SF
Sold 05/17/2023
SOLD
Mike Lage Acquires Retail Property On 280 East Main Street In Elmsford For $4.1M
280 E Main St Elmsford, NY 10523, USA
See Similar DealsRetail2,200 SF
Sold 05/17/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,863
Total Square Footage:2,200 SF
Transaction Type:Sale
A retail property located at 280 East Main Street in Elmsford has been sold for $4,100,000. The property spans 2,200 square feet, resulting in a price per square foot of $1,864. The transaction took place on May 17, 2023. The buyer in this deal was Mike Lage, while the seller was Benjamin Moss.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,100,000
- Address: 280 East Main Street
- Market: Elmsford
- Square Footage: 2,200
- Buyer: Mike Lage
- Seller: Benjamin Moss
Nir Mor represented the buyer, Mike Lage, in this transaction. Jeff Kintzer acted as the seller's representative, representing Benjamin Moss. These key individuals played crucial roles in facilitating the successful sale of the retail property on East Main Street.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$218,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,566.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,436.09
Annual Debt Service$233,233.10
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