Greater Portland Health Acquires Medical Office At 295 Park Ave In Portland, ME For $2.1M
295 Park Avenue, Portland, Maine 04102, United States
$2,100,000
$291/SF
Building Size
7,197 SF
Asset Type
—
Closing
May 5, 2022
AI
The medical office located at 295 Park Ave in Portland, ME has been sold for a price of $2,100,000. The property spans across 7,197 square feet, resulting in a price per square foot of $292. The transaction took place on 05/06/2022 between the buyer, Greater Portland Health, and the seller, Firehouse Five, LLC.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $2,100,000
- Address: 295 Park Ave
- Market: Portland, ME
- Buyer: Greater Portland Health
- Seller: Firehouse Five, LLC
- Buyer's Representative: Greg Boulos & Samantha Marinko - The Boulos Company
- Seller's Representative: Katie Allen, Esq. & Tom Moulton, CCIM, SIOR - The Dunham Group
Greg Boulos and Samantha Marinko from The Boulos Company represented Greater Portland Health in the transaction, while Katie Allen, Esq. and Tom Moulton, CCIM, SIOR of The Dunham Group represented Firehouse Five, LLC. The sale of this medical office represents a significant transaction in the Portland, ME market.
Players
Portland CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93