SOLD
Tian Feng Zhang Acquires Prime Retail Building In Downtown Jamaica For $3.5M
170-08 Jamaica Avenue
Development Site
9,900 SF
9,900 SF
Sold 1 year ago
Summary
Sale
NEW YORK
Development Site
9,900 sqft
A prime retail building with an 'NNN' lease in Downtown Jamaica has been sold for $3,500,000. The property, located at 170-08 Jamaica Avenue, spans 9,900 square feet and has a price per square foot of $353. The sale resulted in a capitalization rate of 5.87%. The property, currently serving as a retail building, also holds potential for future development.
Summary of transaction details
- Property Type: Prime Retail Building with 'NNN' Lease
- Transaction Amount: $3,500,000
- Square Footage: 9,900
- Price per Square Foot: $353
- Capitalization Rate: 5.87%
- Address: 170-08 Jamaica Avenue
- Market: Downtown Jamaica
Tian Feng Zhang acquired the property from Kemraj Bodh. Represented by Daniel Abbondandolo of Cushman & Wakefield, the deal was successfully completed. The acquisition of this prime retail building presents potential for future development in Downtown Jamaica.
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Details
SOLD
IMAGE: Daniel Abbondandolo
DATE: 10/23/18
ADDRESS: 170-08 Jamaica Avenue
MARKET: Downtown Jamaica
ASSET TYPE: Prime Retail Building ‘NNN’ Lease in Downtown Jamaica - future Development Site
BUYER: Tian Feng Zhang
SELLER: Kemraj Bodh
BROKER: @CushWake Daniel Abbondandolo
SALE PRICE: $3,500,000
SF: 9,900 ~ PPSF: $353
CAP RATE: 5.87%
PPBSF: $80 (Max)View on map
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Address170-08 Jamaica Avenue
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