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86-22 Broadway, Elmhurst, Q...

Li Lan Wu Acquires Retail Property In Elmhurst For $4M
SOLDRetail

Li Lan Wu Acquires Retail Property In Elmhurst For $4M

86-22 Broadway, Elmhurst, Queens, NY, USA

$4,000,000

$851/SF

Building Size

4,700 SF

Asset Type

Retail

Closing

Feb 10, 2021

AI

An retail property located at 86-22 Broadway in Elmhurst has been sold for $4,000,000. The property spans 4,700 square feet, resulting in a price per square foot of $851. The transaction took place on February 11, 2021. The previous sale of the property occurred on November 18, 2013, at a price of $1,100,000. The property is zoned as R7A and C1-2.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $4,000,000
  • Square Footage: 4,700
  • Price per Square Foot: $851
  • Address: 86-22 Broadway, Elmhurst
  • Market: Elmhurst
  • Previous Sale Price: $1,100,000 (11/18/2013)
  • Zoning: R7A, C1-2

Li Lan Wu purchased the retail property from Xiu Qin Shi in the transaction. Li Lan Wu represented themselves in the deal.

Players

Li Lan Wu

Buyer

$8.4M

vol

3 deals

Buyer

New York 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

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93