Jernail Singh Acquires Gas Station In Long Island City For $4.2M
SOLD
$4,200,000
New York
See Similar DealsRetail8,391 SF
Sold 06/08/2022
SOLD
Jernail Singh Acquires Gas Station In Long Island City For $4.2M
53-26 Van Dam Street
See Similar DealsRetail8,391 SF
Sold 06/08/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$500
Total Square Footage:8,391 SF
Transaction Type:Sale
A gas station located at 53-26 Van Dam Street in Long Island City has been sold for $4,200,000. The property spans 8,391 square feet, resulting in a price per square foot of $500. The transaction took place on 06/08/2022.
Summary of transaction details
- Property Type: Gas Station
- Transaction Amount: $4,200,000
- Address: 53-26 Van Dam Street
- Market: Long Island City
- SF: 8,391
- PPSF: $500
The buyer of the gas station is Jernail Singh, while the seller is Stan Garelick.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$223,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,921.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,910.14
Annual Debt Service$238,921.71
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