John Varghese & Abraham Philip Acquire 5 Unit Retail Strip In Elmont For $1.45M
SOLD
$1,455,000
New York
See Similar DealsRetail4,381 SF
Sold 07/18/2019
SOLD
John Varghese & Abraham Philip Acquire 5 Unit Retail Strip In Elmont For $1.45M
739 Elmont Rd, Elmont, NY 11003, USA
See Similar DealsRetail4,381 SF
Sold 07/18/2019
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$332
Total Square Footage:4,381 SF
Transaction Type:Sale
A 5 unit retail strip with parking located at 739-741 Elmont Rd in Elmont has been sold for $1,455,000. The property spans 4,381 square feet, resulting in a price per square foot of $332. The transaction took place on 07/18/2019.
Summary of transaction details
- Property Type: 5 unit retail strip
- Transaction Amount: $1,455,000
- Square Footage: 4,381
- Price per Square Foot: $332
- Address: 739-741 Elmont Rd
- Market: Elmont
The buyers of the property are John Varghese and Abraham Philip. They acquired the property from Surinder Arora – Durga Management, Inc. The transaction was facilitated by Gurpreet Singh, who represented the buyers as their broker.
This retail strip was fully occupied at the time of the sale, making it an attractive investment opportunity for the buyers.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$77,599.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,169.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,897.44
Annual Debt Service$82,769.31
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