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3590 East Tremont Avenue

Miguel Luna Acquires Retail Building Leased To Walgreens For $7.3 Million In Bronx
SOLDRetail

Miguel Luna Acquires Retail Building Leased To Walgreens For $7.3 Million In Bronx

3590 East Tremont Avenue

$7,300,000

$584/SF

Building Size

12,500 SF

Asset Type

Retail

Closing

Oct 29, 2024

AI

A retail building located at 3590 East Tremont Avenue in Throgs Neck, Bronx was sold for $7.3 million. The property encompasses 12,531 building square feet (BSF) and has a price per building square foot (PPBSF) of $583. It also totals 12,500 square feet (SF) with a price per square foot (PPSF) of $584.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $7,300,000
  • Building Square Feet: 12,531
  • Price Per Building Square Foot: $583
  • Square Feet: 12,500
  • Price Per Square Foot: $584
  • Buyer: Miguel Luna
  • Seller: Donald Engeldrum & Lizanne Catalano

Miguel Luna, through 3582 Throgs Neck Realty LLC, acquired the property, which is leased to Walgreens.

Players

Bronx 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

2.17%

Cash-on-Cash

-0.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93