Isak and Falco of Falco Isak Realty arranges $4.25 million sale of three-story mixed-use property in Corona

Rubin Isak and John Falco of Falco Isak Realty Services, an investment sales firm, has exclusively sold 51-17 108th St., Corona in an all cash transaction valued at $4.25 million. The transaction closed on April 1st. The property is a three-story, plus legal cellar, brick, corner, mixed-use building built in 1988, located on the northeast corner of 108th St. and 52nd Ave. The building consists of three retail stores, one medical office and eight free market residential units. The sales price of $4.25 million represents a capitalization rate of 5.74%; 13.2X gross rent and $293 per s/f. The seller was 51-17-23 108 St. Realty Inc. and the purchaser was 51-17 Realty LLC, a private investor in the area. Falco Isak Realty was the sole broker.