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Mahmood Ahmed Acquires Retail Property From Simkho Aranbaev In Fresh Meadows For $1.8M

Property Image
SOLD
$1,800,000
William "Billy" Stephan
Scott Plasky

New York

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Retail4,000 SF
Sold 09/25/2024
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Property Image
SOLD

Mahmood Ahmed Acquires Retail Property From Simkho Aranbaev In Fresh Meadows For $1.8M

84-47 Parsons Boulevard

See Similar Deals
Retail4,000 SF
Sold 09/25/2024
William "Billy" Stephan
Scott Plasky
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$450
Total Square Footage:4,000 SF
Transaction Type:Sale

This transaction involved a retail property located at 84-47 Parsons Boulevard in the Fresh Meadows market. The asset, a 5-tenant, 100% occupied corner retail strip, spans approximately 4,000 square feet and was sold for $1,800,000, equating to a price per square foot of $450.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,800,000
  • Address: 84-47 Parsons Boulevard
  • Market: Fresh Meadows
  • Square Footage: 4,000
  • Price per Square Foot: $450
  • Buyer: Mahmood Ahmed
  • Seller: Simkho Aranbaev
  • Broker Representatives: Scott Plasky & William Stephan - Marcus & Millichap

The transaction was facilitated by Scott Plasky and William Stephan, who represented the buyer and seller in this deal. The retail strip has a strong tenant occupancy, which is a key detail underlying the value of this investment.

Players

William "Billy" Stephan
Marcus & Millichap
William Stephan
39 deals$236.5M volume
BROKER
Scott Plasky
Marcus & Millichap
Scott Plasky
78 deals$406.4M volume(212) 430-5229
BROKER

Details

SOLD
IMAGE: Scott Plasky & William Stephan DATE: 09/25/2024 ADDRESS: 84-47 Parsons Boulevard MARKET: Fresh Meadows ASSET TYPE: Retail BUYER: Mahmood Ahmed SELLER: Simkho Aranbaev BROKERS: Scott Plasky (@PlaskyRetailGroup) & William Stephan (@BillyStephan_MM) - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $1,800,000 SF: 4,000 ~ PPSF: $450 NOTE FROM BROKER: This is a 5-tenant, 100% occupied corner retail strip on Parsons Blvd in Jamaica (Queens).

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$96,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02