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
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