Mahmood Ahmed Acquires Retail Property From Simkho Aranbaev In Fresh Meadows For $1.8M
84-47 Parsons Boulevard
$1,800,000
$450/SF
Building Size
4,000 SF
Asset Type
Retail
Closing
Sep 25, 2024
AI
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
Jamaica 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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93