Isaac Malekan Acquires Retail Property In Queens For $1M With Brokers Stephen R. Preuss And Kevin Schmitz
SOLD
$1,000,000
Virginia
See Similar DealsRetail30,000 SF
Sold 11/19/2019
SOLD
Isaac Malekan Acquires Retail Property In Queens For $1M With Brokers Stephen R. Preuss And Kevin Schmitz
189 30 Linden Blvd, Jamaica, Ny 11412, Usa
See Similar DealsRetail30,000 SF
Sold 11/19/2019
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$33
Total Square Footage:30,000 SF
Transaction Type:Sale
An retail property located at 189-30 Linden Boulevard in Queens has been sold for $1,000,000. The property spans 3,000 square feet, resulting in a price per square foot of $333. It consists of 3 units, with each unit priced at $333,333. The transaction took place between seller Yehuda Cohen and buyer Isaac Malekan.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,000,000
- Square Footage: 3,000
- Price per Square Foot: $333
- Units: 3
- Price per Unit: $333,333
The deal was facilitated by brokers Stephen R. Preuss and Kevin Schmitz from Cushwake. This sale adds to Team Preuss' successful year, marking their 52nd property transaction in 2019.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$53,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,552.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740.51
Annual Debt Service$56,886.12
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