Gurminder Singh Acquires Gas Station In Suffolk County For $1M
500 Larkfield Rd, East Northport, NY 11731
$1,000,000
$100/SF
Building Size
10,000 SF
Asset Type
Retail
Closing
Mar 30, 2022
About this deal
AI
A gas station located at 500 Larkfield Rd in Suffolk County was recently sold for $1,000,000. The transaction took place on March 31, 2022, with Gurminder Singh purchasing the property from Franklin Johnson. The lot size of the gas station is approximately 10,000 square feet, resulting in a price per square foot of $100.
Summary of transation details
- Property Type: Gas Station
- Transaction Amount: $1,000,000
- Address: 500 Larkfield Rd
- Market: Suffolk County
The deal was facilitated by Michael Gronenthal of Douglas Elliman, who represented both the buyer, Gurminder Singh, and the seller, Franklin Johnson.
East Northport 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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93