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3875 Merrick Road, Seaford,...

George Voutsinas Acquires Retail Property On Merrick Rd. For $2.1M
SOLDRetail

George Voutsinas Acquires Retail Property On Merrick Rd. For $2.1M

3875 Merrick Road, Seaford, New York 11783, United States

$2,100,000

$228/SF

Building Size

9,180 SF

Asset Type

Retail

Closing

Sep 19, 2022

AI

JPMorgan Chase has successfully sold a free-standing bank branch located at 3875 Merrick Rd. in Seaford, Southeast Nassau. The vacant retail property spans 9,180 square feet and sits on a 14,812 square foot lot with 21 parking spaces. The asset was sold for $2,100,000, equating to a price per square foot of $229. Situated on the north side of Merrick Road with 125 feet of frontage and immediate access to Seaford Oyster Bay Expressway (NY-135), this property presents a great opportunity for repositioning.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,100,000
  • Address: 3875 Merrick Rd.
  • Market: Southeast Nassau
  • Square Footage: 9,180

The sale was facilitated by Cushman & Wakefield, with Dan Abbondandolo, Joe Musso, Joegy Raju, Connor Sullivan, Rob Cullen, and Victor Little representing JPMorgan Chase as their brokers. For more information about this transaction, please contact the exclusive brokers directly.

Players

Daniel Abbondandolo

Cushman & Wakefield

Broker

$509.6M

vol

84 deals

Broker

George Voutsinas

Buyer

$10.7M

vol

2 deals

Buyer
J.P. Morgan Chase
J.P. Morgan ChaseSeller
J.P. Morgan Chase
J.P. Morgan ChaseLender

Seaford 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

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93