Mike Jags Purchases Retail Asset From Fred DeStefano For $1.7M In Massapequa Park
SOLD
$1,700,000
New York
See Similar DealsRetail1,800 SF
Sold 05/28/2026
SOLD
Mike Jags Purchases Retail Asset From Fred DeStefano For $1.7M In Massapequa Park
4750 Sunrise Highway
See Similar DealsRetail1,800 SF
Sold 05/28/2026
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$944
Total Square Footage:1,800 SF
Transaction Type:Sale
The retail property located at 4750 Sunrise Highway, Massapequa Park, was sold with a transaction amount of $1,700,000. The asset sits on a lot size of 38 acres and has a total square footage of 1,800.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,700,000
- Lot Size: 38 Acres
- Square Footage: 1,800
- Buyer: Mike Jags
- Seller: Fred DeStefano
- Broker: Michael Gronenthal - Douglas Elliman
This transaction features a long-term net lease with Avis Budget Group, highlighting the investment potential of the property through established tenancy.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$90,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,039.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,058.87
Annual Debt Service$96,706.41
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