Michael Lee Acquires Warehouse On Toledo St, Farmingdale For $610,000.00
SOLD
$610,000
New York
See Similar DealsWarehouse4,800 SF
SOLD
Michael Lee Acquires Warehouse On Toledo St, Farmingdale For $610,000.00
134 Toledo St, Farmingdale, NY, 11735
See Similar DealsWarehouse4,800 SF
Summary
NEW YORK
Asset Type:Warehouse
Price Per Square Foot:$127
Total Square Footage:4,800 SF
Transaction Type:Sale
The property asset involved in the transaction is a warehouse located at 134 Toledo St, Farmingdale, NY, with a total square footage of 4,800. The asset was purchased for $610,000. The market for this transaction is Farmingdale.
Summary of transaction details:
- Property Type: Warehouse
- Transaction Amount: $610,000.00
- Buyer: Michael Lee
- Seller: Qualified Manufacturing Corp.
- Buyer's Representative: Michael Freedberg
Michael Freedberg represented both the buyer, Michael Lee, an investor from Deer Park, and the seller, Qualified Manufacturing Corp., a machine shop operator, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$32,533.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,167.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,891.71
Annual Debt Service$34,700.53
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