Raymond Doran Acquires Retail Property From Samuel Colin In Lake Grove For $2,725,000
2822 Middle Country Road
$2,725,000
$664/SF
Building Size
4,100 SF
Asset Type
Retail
Closing
Jun 17, 2026
AI
The property asset involved in the transaction is a freestanding retail space located at 2822 Middle Country Road in Lake Grove. This property has a total area of approximately 4,100 square feet and is situated on 1.07 acres. It features a triple drive-thru and offers 27 parking spaces, along with prominent frontage along Middle Country Road. The sale price of the property was $2,725,000, equating to about $665 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,725,000
- Square Footage: 4,100
- Price Per Square Foot: $664
- Buyer: Raymond Doran
- Seller: Samuel Colin
- Seller's Representative: Daniel Abbondandolo, Joegy Raju & Victor Little - Cushman & Wakefield
- Market: Lake Grove
The deal was facilitated by Cushman & Wakefield’s Long Island Investment Sales Team, showcasing the continued demand for well-located retail properties in the region. The buyer, Raymond Doran, acquired the property through a 1031 exchange, indicating a strategic investment move in the retail market.
Players
Market Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.82%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93